Cidara Therapeutics (NASDAQ:CDTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “Cidara Therapeutics, Inc. is a biotechnology company. The company is focused on the discovery, development and commercialization of novel anti-infectives. Its product pipeline includes CD101 IV, a long-acting echinocandin antifungal, CD101 topical and C001 which are in different clinical trial. The company developed its product using Cloudbreak(TM) immunotherapy platform. Cidara Therapeutics, Inc. is headquartered in San Diego, California. “
A number of other equities research analysts have also issued reports on CDTX. Cantor Fitzgerald reaffirmed a “buy” rating and set a $15.00 target price on shares of Cidara Therapeutics in a research report on Tuesday, September 26th. HC Wainwright boosted their target price on Cidara Therapeutics from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $12.93.
Shares of Cidara Therapeutics (NASDAQ CDTX) traded down $0.05 during trading on Friday, hitting $7.55. The stock had a trading volume of 71,372 shares, compared to its average volume of 83,711. The firm has a market capitalization of $154.82 and a price-to-earnings ratio of -2.23. The company has a quick ratio of 7.69, a current ratio of 7.69 and a debt-to-equity ratio of 0.16. Cidara Therapeutics has a 12 month low of $5.60 and a 12 month high of $11.75.
Cidara Therapeutics (NASDAQ:CDTX) last announced its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.21. equities analysts anticipate that Cidara Therapeutics will post -3.31 earnings per share for the current fiscal year.
In other Cidara Therapeutics news, major shareholder Target N. V. Biotech purchased 60,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The shares were purchased at an average cost of $7.57 per share, with a total value of $454,200.00. Following the completion of the transaction, the insider now owns 2,295,272 shares of the company’s stock, valued at $17,375,209.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.90% of the stock is currently owned by insiders.
A number of large investors have recently bought and sold shares of CDTX. Citadel Advisors LLC acquired a new position in Cidara Therapeutics during the second quarter valued at $129,000. Raymond James Financial Services Advisors Inc. acquired a new position in Cidara Therapeutics in the 2nd quarter worth about $131,000. OxFORD Asset Management LLP increased its position in Cidara Therapeutics by 69.1% in the 3rd quarter. OxFORD Asset Management LLP now owns 22,181 shares of the biotechnology company’s stock worth $187,000 after purchasing an additional 9,065 shares during the last quarter. JPMorgan Chase & Co. increased its position in Cidara Therapeutics by 77.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 41,266 shares of the biotechnology company’s stock worth $328,000 after purchasing an additional 18,001 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new position in Cidara Therapeutics in the 2nd quarter worth about $350,000. 55.45% of the stock is currently owned by hedge funds and other institutional investors.
Cidara Therapeutics Company Profile
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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