Analysts Set Cidara Therapeutics, Inc. (NASDAQ:CDTX) PT at $71.25

Cidara Therapeutics, Inc. (NASDAQ:CDTX) has earned an average rating of “Buy” from the four research firms that are covering the firm, MarketBeat reports. Three analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $71.25.

Several research firms recently commented on CDTX. HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Cidara Therapeutics in a report on Monday, April 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cidara Therapeutics in a research note on Tuesday, April 23rd. WBB Securities reaffirmed a “strong-buy” rating and issued a $40.00 price objective on shares of Cidara Therapeutics in a research note on Thursday, April 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $25.00 target price on shares of Cidara Therapeutics in a research report on Thursday, May 16th.

Hedge Funds Weigh In On Cidara Therapeutics

A number of institutional investors have recently modified their holdings of CDTX. Raymond James Financial Services Advisors Inc. lifted its stake in Cidara Therapeutics by 25.2% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock worth $75,000 after acquiring an additional 15,912 shares during the period. Pale Fire Capital SE bought a new stake in shares of Cidara Therapeutics in the 3rd quarter valued at about $51,000. Finally, Tocqueville Asset Management L.P. lifted its position in shares of Cidara Therapeutics by 71.6% in the 1st quarter. Tocqueville Asset Management L.P. now owns 163,000 shares of the biotechnology company’s stock worth $150,000 after purchasing an additional 68,000 shares during the period. 35.82% of the stock is owned by hedge funds and other institutional investors.

Cidara Therapeutics Stock Up 0.8 %

CDTX opened at $12.02 on Monday. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $27.60. The stock has a market cap of $54.81 million, a PE ratio of -1.57 and a beta of 1.11. The business has a 50 day moving average of $14.68 and a 200-day moving average of $14.61.

Cidara Therapeutics (NASDAQ:CDTX) last released its earnings results on Monday, April 22nd. The biotechnology company reported ($0.80) EPS for the quarter. The company had revenue of $17.58 million during the quarter. Cidara Therapeutics had a negative return on equity of 201.62% and a negative net margin of 73.46%. Equities analysts anticipate that Cidara Therapeutics will post -13.07 EPS for the current year.

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.