Cidara Therapeutics (NASDAQ:CDTX) Given Strong-Buy Rating at WBB Securities

WBB Securities reiterated their strong-buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research note published on Monday morning,Benzinga reports. The brokerage currently has a $45.00 price objective on the biotechnology company’s stock.

Several other analysts have also commented on the company. Needham & Company LLC raised their target price on Cidara Therapeutics from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Wednesday, June 4th. Citigroup began coverage on Cidara Therapeutics in a research report on Wednesday, March 12th. They issued an “outperform” rating on the stock. HC Wainwright raised shares of Cidara Therapeutics to a “buy” rating and set a $41.00 target price for the company in a report on Wednesday, June 18th. Citizens Jmp initiated coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They issued an “outperform” rating and a $46.00 target price for the company. Finally, Wall Street Zen raised shares of Cidara Therapeutics to a “sell” rating in a report on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Cidara Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $53.71.

Cidara Therapeutics Price Performance

Shares of Cidara Therapeutics stock opened at $49.33 on Monday. The firm has a fifty day moving average price of $23.87 and a 200 day moving average price of $22.53. Cidara Therapeutics has a 1 year low of $10.14 and a 1 year high of $56.83. The stock has a market cap of $619.09 million, a PE ratio of -1.67 and a beta of 0.79.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly 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. As a group, equities analysts expect that Cidara Therapeutics will post -8.74 EPS for the current year.

Institutional Trading of Cidara Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in CDTX. Millennium Management LLC grew its stake in Cidara Therapeutics by 158.4% in the 4th quarter. Millennium Management LLC now owns 35,960 shares of the biotechnology company’s stock valued at $967,000 after acquiring an additional 22,041 shares during the period. Jane Street Group LLC acquired a new position in Cidara Therapeutics during the fourth quarter worth $342,000. OMERS ADMINISTRATION Corp purchased a new position in Cidara Therapeutics during the fourth quarter valued at $339,000. Vivo Capital LLC purchased a new position in Cidara Therapeutics during the fourth quarter valued at $18,026,000. Finally, Schonfeld Strategic Advisors LLC grew its position in shares of Cidara Therapeutics by 154.1% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 49,557 shares of the biotechnology company’s stock valued at $1,332,000 after purchasing an additional 30,057 shares during the period. 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.