Cidara Therapeutics (NASDAQ:CDTX) Now Covered by Guggenheim

Stock analysts at Guggenheim started coverage on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research report issued on Friday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $33.00 price target on the biotechnology company’s stock. Guggenheim’s target price would suggest a potential upside of 151.72% from the company’s current price.

Other analysts have also recently issued research reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. HC Wainwright reissued a “buy” rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a research report on Tuesday, October 22nd. Needham & Company LLC reissued a “buy” rating and issued a $25.00 price objective on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Finally, StockNews.com upgraded Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, September 13th. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Cidara Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $30.50.

Cidara Therapeutics Price Performance

Shares of CDTX stock opened at $13.11 on Friday. The stock’s 50 day simple moving average is $11.52 and its two-hundred day simple moving average is $12.03. Cidara Therapeutics has a 1 year low of $10.00 and a 1 year high of $24.40. The company has a market cap of $92.29 million, a PE ratio of -0.53 and a beta of 0.99.

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

Hedge Funds Weigh In On Cidara Therapeutics

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

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.