Cidara Therapeutics (NASDAQ:CDTX) Given a $68.00 Price Target by Guggenheim Analysts

Guggenheim set a $68.00 price objective on Cidara Therapeutics (NASDAQ:CDTX) in a research report report published on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

Other research analysts have also issued reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cidara Therapeutics in a research report on Tuesday, June 10th. Citigroup started coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an “outperform” rating on the stock. Wall Street Zen raised Cidara Therapeutics to a “sell” rating in a research report on Saturday, May 10th. Needham & Company LLC raised their price objective on Cidara Therapeutics from $36.00 to $54.00 and gave the company a “buy” rating in a research report on Monday. Finally, JMP Securities reissued a “market outperform” rating and issued a $47.00 price objective on shares of Cidara Therapeutics in a research report on Monday, June 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $53.71.

Cidara Therapeutics Trading Down 2.6%

Shares of CDTX opened at $48.03 on Tuesday. The firm has a market capitalization of $602.78 million, a P/E ratio of -1.63 and a beta of 0.79. The stock’s fifty day simple moving average is $24.44 and its 200 day simple moving average is $22.70. Cidara Therapeutics has a twelve month low of $10.14 and a twelve month high of $56.83.

Cidara Therapeutics (NASDAQ:CDTX) last issued its earnings results on Thursday, May 8th. The biotechnology company reported ($1.66) earnings per share for the quarter, topping the consensus estimate of ($5.45) by $3.79. Sell-side analysts predict that Cidara Therapeutics will post -8.74 earnings per share for the current year.

Institutional Trading of Cidara Therapeutics

Several large investors have recently modified their holdings of the business. BVF Inc. IL grew its stake in shares of Cidara Therapeutics by 55.4% during the fourth quarter. BVF Inc. IL now owns 1,092,796 shares of the biotechnology company’s stock valued at $29,374,000 after acquiring an additional 389,731 shares in the last quarter. RA Capital Management L.P. grew its stake in shares of Cidara Therapeutics by 55.4% during the fourth quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company’s stock valued at $29,374,000 after acquiring an additional 389,716 shares in the last quarter. TCG Crossover Management LLC acquired a new stake in shares of Cidara Therapeutics during the fourth quarter valued at about $26,092,000. Adage Capital Partners GP L.L.C. grew its stake in shares of Cidara Therapeutics by 167.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 990,000 shares of the biotechnology company’s stock valued at $21,325,000 after acquiring an additional 620,046 shares in the last quarter. Finally, VR Adviser LLC acquired a new stake in shares of Cidara Therapeutics during the fourth quarter valued at about $20,583,000. 35.82% of the stock is currently owned by institutional investors and hedge funds.

About Cidara Therapeutics

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.