Cidara Therapeutics’ (CDTX) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their overweight rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research note released on Monday, MarketBeat reports.

Several other equities analysts have also issued reports on the stock. Guggenheim assumed coverage on shares of Cidara Therapeutics in a report on Friday, November 8th. They set a “buy” rating and a $33.00 price objective on the stock. WBB Securities lifted their price objective on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research report on Thursday, December 5th. Royal Bank of Canada initiated coverage on shares of Cidara Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $34.00 target price for the company. HC Wainwright reaffirmed a “buy” rating and issued a $24.00 price target on shares of Cidara Therapeutics in a report on Monday, November 11th. Finally, StockNews.com lowered Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.20.

Cidara Therapeutics Trading Down 5.7 %

Shares of CDTX stock opened at $17.85 on Monday. The stock has a market capitalization of $125.79 million, a price-to-earnings ratio of -0.70 and a beta of 0.98. Cidara Therapeutics has a twelve month low of $10.00 and a twelve month high of $28.42. The stock has a fifty day simple moving average of $22.11 and a two-hundred day simple moving average of $15.62.

Hedge Funds Weigh In On Cidara Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its stake in Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock valued at $569,000 after purchasing an additional 9,771 shares during the last quarter. Checkpoint Capital L.P. increased its holdings in Cidara Therapeutics by 25.5% in the 3rd quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock worth $1,961,000 after buying an additional 37,009 shares during the period. Finally, RA Capital Management L.P. acquired a new stake in Cidara Therapeutics during the 3rd quarter valued at approximately $7,558,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes 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.