Cidara Therapeutics (NASDAQ:CDTX) Cut to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Cidara Therapeutics (NASDAQ:CDTXGet Rating) from a buy rating to a sell rating in a research report report published on Tuesday, Zacks.com reports.

According to Zacks, “Cidara Therapeutics, Inc. is a biotechnology company. The company is focused on the discovery, development and commercialization of novel anti-infectives. Its product pipeline includes CD101 IV, a long-acting echinocandin antifungal, CD101 topical and C001 which are in different clinical trial. The company developed its product using Cloudbreak(TM) immunotherapy platform. Cidara Therapeutics, Inc. is headquartered in San Diego, California. “

CDTX has been the subject of a number of other research reports. HC Wainwright cut their price target on shares of Cidara Therapeutics from $7.50 to $6.00 in a research note on Thursday, May 12th. Aegis reissued a buy rating on shares of Cidara Therapeutics in a research note on Wednesday, March 16th. StockNews.com initiated coverage on shares of Cidara Therapeutics in a research note on Friday, May 13th. They issued a hold rating for the company. Finally, Needham & Company LLC reissued a buy rating and issued a $6.00 price target on shares of Cidara Therapeutics in a research note on Tuesday, March 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Cidara Therapeutics presently has an average rating of Buy and an average price target of $5.50.

Cidara Therapeutics stock opened at $0.47 on Tuesday. The firm’s 50 day simple moving average is $0.76 and its 200 day simple moving average is $1.01. The firm has a market capitalization of $32.79 million, a PE ratio of -0.66 and a beta of 1.35. Cidara Therapeutics has a 1-year low of $0.41 and a 1-year high of $2.39.

Cidara Therapeutics (NASDAQ:CDTXGet Rating) last released its quarterly earnings results on Wednesday, May 11th. The biotechnology company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.01. Cidara Therapeutics had a negative net margin of 81.71% and a negative return on equity of 430.97%. As a group, research analysts anticipate that Cidara Therapeutics will post -1.01 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in the company. BVF Inc. IL raised its holdings in Cidara Therapeutics by 9.9% during the 3rd quarter. BVF Inc. IL now owns 4,776,904 shares of the biotechnology company’s stock valued at $10,700,000 after buying an additional 430,000 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Cidara Therapeutics during the 4th quarter valued at $5,334,000. Stonepine Capital Management LLC raised its holdings in Cidara Therapeutics by 195.3% during the 4th quarter. Stonepine Capital Management LLC now owns 2,311,530 shares of the biotechnology company’s stock valued at $2,936,000 after buying an additional 1,528,713 shares during the last quarter. Renaissance Technologies LLC raised its holdings in Cidara Therapeutics by 1.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,437,845 shares of the biotechnology company’s stock valued at $1,197,000 after buying an additional 23,588 shares during the last quarter. Finally, Altium Capital Management LP bought a new position in Cidara Therapeutics in the 3rd quarter worth $2,015,000. 58.20% of the stock is owned by institutional investors.

About Cidara Therapeutics (Get Rating)

Cidara Therapeutics, Inc, a biotechnology company, focuses on the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is 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.

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