Cidara Therapeutics (NASDAQ:CDTX) Now Covered by Analysts at Citizens Jmp

Citizens Jmp assumed coverage on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research report issued on Wednesday,Briefing.com Automated Import reports. The brokerage set an “outperform” rating and a $46.00 price target on the biotechnology company’s stock. Citizens Jmp’s target price points to a potential upside of 119.05% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada assumed coverage on Cidara Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $34.00 target price on the stock. HC Wainwright increased their target price on Cidara Therapeutics from $24.00 to $35.00 and gave the company a “buy” rating in a report on Monday. Cantor Fitzgerald raised Cidara Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 5th. WBB Securities raised their price objective on Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research note on Thursday, December 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 price objective on shares of Cidara Therapeutics in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, five have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Cidara Therapeutics has an average rating of “Buy” and a consensus price target of $38.00.

Cidara Therapeutics Stock Down 6.2 %

Shares of CDTX stock opened at $21.00 on Wednesday. The stock has a market cap of $147.99 million, a price-to-earnings ratio of -0.82 and a beta of 0.88. The business’s fifty day moving average is $22.35 and its 200 day moving average is $17.64. Cidara Therapeutics has a twelve month low of $10.00 and a twelve month high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share for the quarter, missing the consensus estimate of ($5.28) by ($0.10). Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%. Equities research analysts expect that Cidara Therapeutics will post -8.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cidara Therapeutics

Institutional investors have recently added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Cidara Therapeutics during the 4th quarter valued at approximately $56,000. Point72 Asset Management L.P. bought a new stake in shares of Cidara Therapeutics during the 4th quarter worth approximately $165,000. OMERS ADMINISTRATION Corp bought a new stake in Cidara Therapeutics during the 4th quarter valued at $339,000. Jane Street Group LLC bought a new stake in Cidara Therapeutics during the 4th quarter valued at $342,000. Finally, Boothbay Fund Management LLC bought a new stake in Cidara Therapeutics during the 4th quarter valued at $419,000. 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.