Cidara Therapeutics (NASDAQ:CDTX) was downgraded by investment analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a research report issued on Wednesday.
A number of other brokerages have also recently issued reports 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 note on Thursday, March 8th. WBB Securities upgraded shares of Cidara Therapeutics from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Zacks Investment Research cut shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday, May 15th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $12.92.
Shares of Cidara Therapeutics stock opened at $5.43 on Wednesday. The stock has a market capitalization of $104.82 million, a P/E ratio of -1.71 and a beta of 2.05. Cidara Therapeutics has a 1 year low of $3.70 and a 1 year high of $8.80. The company has a current ratio of 5.99, a quick ratio of 5.99 and a debt-to-equity ratio of 0.15.
Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings results on Thursday, May 10th. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.70) by ($0.10). analysts expect that Cidara Therapeutics will post -2.71 earnings per share for the current fiscal year.
In other news, CEO Jeffrey Stein purchased 212,766 shares of the company’s stock in a transaction that occurred on Wednesday, May 23rd. The shares were bought at an average price of $4.70 per share, for a total transaction of $1,000,000.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 15.20% of the company’s stock.
A number of large investors have recently modified their holdings of the business. Guggenheim Capital LLC raised its position in Cidara Therapeutics by 117.3% in the 1st quarter. Guggenheim Capital LLC now owns 223,903 shares of the biotechnology company’s stock worth $895,000 after buying an additional 120,878 shares during the last quarter. JPMorgan Chase & Co. raised its position in Cidara Therapeutics by 87.0% in the 1st quarter. JPMorgan Chase & Co. now owns 69,172 shares of the biotechnology company’s stock worth $277,000 after buying an additional 32,181 shares during the last quarter. BlackRock Inc. raised its position in Cidara Therapeutics by 265.0% in the 1st quarter. BlackRock Inc. now owns 249,540 shares of the biotechnology company’s stock worth $998,000 after buying an additional 181,177 shares during the last quarter. Northern Trust Corp raised its position in Cidara Therapeutics by 102.5% in the 1st quarter. Northern Trust Corp now owns 35,581 shares of the biotechnology company’s stock worth $142,000 after buying an additional 18,014 shares during the last quarter. Finally, Trexquant Investment LP raised its position in Cidara Therapeutics by 119.9% in the 1st quarter. Trexquant Investment LP now owns 32,845 shares of the biotechnology company’s stock worth $131,000 after buying an additional 17,912 shares during the last quarter. 62.48% of the stock is owned by institutional investors and hedge funds.
Cidara Therapeutics Company Profile
Cidara Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-infectives for the treatment of diseases. Its lead product candidate is rezafungin acetate, a molecule in the echinocandin class of antifungals for the treatment and prevention of serious invasive fungal infections, including candidemia and invasive candidiasis, fungal infections associated with high mortality rates.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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