Cidara Therapeutics’ (CDTX) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a research report report published on Monday, Marketbeat reports.

A number of other research analysts also recently commented on CDTX. Guggenheim initiated coverage on Cidara Therapeutics in a research report on Friday, November 8th. They set a “buy” rating and a $33.00 target price for the company. StockNews.com lowered shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Royal Bank of Canada initiated coverage on shares of Cidara Therapeutics in a report on Friday, December 13th. They issued an “outperform” rating and a $34.00 target price on the stock. WBB Securities increased their price target on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a report on Thursday, December 5th. Finally, HC Wainwright reiterated a “buy” rating and issued a $24.00 price target on shares of Cidara Therapeutics in a research report on Monday, November 11th. One analyst has rated the stock with a sell rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.20.

Cidara Therapeutics Stock Down 5.7 %

Shares of CDTX stock opened at $17.85 on Monday. The company’s fifty day simple moving average is $22.11 and its two-hundred day simple moving average is $15.62. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $28.42. The stock has a market cap of $125.79 million, a P/E ratio of -0.70 and a beta of 0.98.

Hedge Funds Weigh In On Cidara Therapeutics

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Cidara Therapeutics by 22.7% in the third quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after purchasing an additional 9,771 shares during the last quarter. RA Capital Management L.P. purchased a new stake in shares of Cidara Therapeutics in the third quarter worth approximately $7,558,000. Finally, Checkpoint Capital L.P. lifted its stake in shares of Cidara Therapeutics by 25.5% during the 3rd quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock worth $1,961,000 after acquiring an additional 37,009 shares during the last quarter. 35.82% of the stock is 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.