Cidara Therapeutics (NASDAQ:CDTX) Raised to Sell at StockNews.com

Cidara Therapeutics (NASDAQ:CDTX) was upgraded by research analysts at StockNews.com to a “sell” rating in a research note issued to investors on Friday.

A number of other equities research analysts have also commented on the stock. Citizens Jmp began coverage on shares of Cidara Therapeutics in a report on Wednesday, March 12th. They set an “outperform” rating and a $46.00 price target for the company. Citigroup began coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They set an “outperform” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $35.00 target price on shares of Cidara Therapeutics in a research note on Friday, March 7th. Cantor Fitzgerald raised Cidara Therapeutics to a “strong-buy” rating in a research report on Wednesday, February 5th. Finally, HC Wainwright lifted their price objective on Cidara Therapeutics from $24.00 to $35.00 and gave the stock a “buy” rating in a research report on Monday, March 10th. One research analyst has rated the stock with a sell rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $39.14.

Cidara Therapeutics Trading Down 7.8 %

Shares of NASDAQ:CDTX traded down $1.39 on Friday, reaching $16.43. 119,539 shares of the company traded hands, compared to its average volume of 68,643. The stock has a market capitalization of $179.96 million, a P/E ratio of -0.64 and a beta of 0.89. The business’s 50-day simple moving average is $21.62 and its 200 day simple moving average is $18.73. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $28.42.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (EPS) 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%. Sell-side analysts expect that Cidara Therapeutics will post -8.74 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Leslie Tari sold 1,773 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total transaction of $38,935.08. Following the sale, the insider now owns 16,215 shares in the company, valued at approximately $356,081.40. The trade was a 9.86 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Shane Ward sold 1,664 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total transaction of $36,541.44. Following the completion of the transaction, the chief operating officer now owns 14,674 shares of the company’s stock, valued at approximately $322,241.04. The trade was a 10.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.64% of the company’s stock.

Hedge Funds Weigh In On Cidara Therapeutics

Several large investors have recently made changes to their positions in CDTX. Point72 Asia Singapore Pte. Ltd. bought a new position in Cidara Therapeutics during the 4th quarter valued at approximately $56,000. Point72 Asset Management L.P. purchased a new stake in shares of Cidara Therapeutics in the fourth quarter worth $165,000. OMERS ADMINISTRATION Corp bought a new position in shares of Cidara Therapeutics during the fourth quarter valued at $339,000. Jane Street Group LLC purchased a new position in shares of Cidara Therapeutics in the 4th quarter worth about $342,000. Finally, Boothbay Fund Management LLC bought a new position in Cidara Therapeutics in the 4th quarter worth about $419,000. 35.82% of the stock is currently owned by hedge funds and other institutional investors.

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.