Shares of Cidara Therapeutics Inc (NASDAQ:CDTX) shot up 10.9% during trading on Thursday . The company traded as high as $8.30 and last traded at $8.15. 1,219,450 shares were traded during trading, an increase of 974% from the average session volume of 113,514 shares. The stock had previously closed at $7.35.
A number of research firms have commented on CDTX. Cantor Fitzgerald set a $15.00 price target on shares of Cidara Therapeutics and gave the stock a “buy” rating in a research report on Thursday. Zacks Investment Research cut shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, December 25th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Cidara Therapeutics currently has a consensus rating of “Buy” and an average price target of $13.56.
The firm has a market cap of $169.29, a P/E ratio of -2.48 and a beta of 1.70. The company has a quick ratio of 6.43, a current ratio of 6.43 and a debt-to-equity ratio of 0.12.
Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings data on Tuesday, February 27th. The biotechnology company reported ($0.69) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.74) by $0.05. equities analysts forecast that Cidara Therapeutics Inc will post -2.66 EPS for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in CDTX. Prosight Management LP acquired a new position in shares of Cidara Therapeutics in the 4th quarter worth approximately $11,206,000. Goldman Sachs Group Inc. purchased a new position in shares of Cidara Therapeutics in the second quarter worth approximately $650,000. Eversept Partners LLC purchased a new position in shares of Cidara Therapeutics in the fourth quarter worth approximately $340,000. Renaissance Technologies LLC increased its position in shares of Cidara Therapeutics by 26.2% in the fourth quarter. Renaissance Technologies LLC now owns 179,300 shares of the biotechnology company’s stock worth $1,219,000 after acquiring an additional 37,197 shares in the last quarter. Finally, Broadfin Capital LLC increased its position in shares of Cidara Therapeutics by 4.5% in the fourth quarter. Broadfin Capital LLC now owns 857,397 shares of the biotechnology company’s stock worth $5,830,000 after acquiring an additional 36,994 shares in the last quarter. 68.74% of the stock is currently owned by institutional investors.
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Cidara Therapeutics Company Profile
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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