Cidara Therapeutics (NASDAQ:CDTX) Given Buy Rating at HC Wainwright

Cidara Therapeutics (NASDAQ:CDTX)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $24.00 price objective on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 113.90% from the company’s current price.

Several other equities analysts have also recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. StockNews.com raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $25.00 price target on shares of Cidara Therapeutics in a report on Wednesday, August 14th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $29.67.

Cidara Therapeutics Price Performance

CDTX opened at $11.22 on Tuesday. The firm has a fifty day moving average price of $11.58 and a 200 day moving average price of $12.36. Cidara Therapeutics has a 1 year low of $10.00 and a 1 year high of $24.40. The stock has a market cap of $51.19 million, a P/E ratio of -1.46 and a beta of 1.03.

Cidara Therapeutics (NASDAQ:CDTX) last posted its earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.94) by $1.89. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 109.89%. The firm had revenue of $0.30 million during the quarter. Equities analysts expect that Cidara Therapeutics will post -12.06 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cidara Therapeutics stock. Tocqueville Asset Management L.P. increased its stake in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 163,000 shares of the biotechnology company’s stock after buying an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned about 3.57% of Cidara Therapeutics worth $150,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.