Cidara Therapeutics (NASDAQ:CDTX) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a report released on Tuesday, Benzinga reports.

Separately, HC Wainwright reiterated a buy rating and set a $120.00 price target on shares of Cidara Therapeutics in a research report on Monday, April 8th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Buy and an average price target of $71.25.

Cidara Therapeutics Stock Performance

Shares of NASDAQ CDTX opened at $12.63 on Tuesday. The company has a market cap of $57.59 million, a PE ratio of -2.63 and a beta of 0.98. The business has a 50-day simple moving average of $15.35 and a two-hundred day simple moving average of $15.31. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $29.60.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Services Advisors Inc. increased its stake in Cidara Therapeutics by 25.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock valued at $75,000 after purchasing an additional 15,912 shares in the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Cidara Therapeutics during the third quarter worth $28,000. Finally, Pale Fire Capital SE acquired a new stake in shares of Cidara Therapeutics during the third quarter worth $51,000. 35.82% of the stock is owned by institutional investors and hedge funds.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.