Cidara Therapeutics (NASDAQ:CDTX) Given “Strong-Buy” Rating at WBB Securities

WBB Securities reissued their strong-buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a report issued on Thursday, Benzinga reports. They currently have a $40.00 price objective on the biotechnology company’s stock.

Several other research firms have also recently commented on CDTX. Needham & Company LLC boosted their price target on shares of Cidara Therapeutics from $3.00 to $25.00 and gave the company a buy rating in a report on Thursday. Cantor Fitzgerald reiterated an overweight rating on shares of Cidara Therapeutics in a report on Tuesday. Finally, 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. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Cidara Therapeutics has an average rating of Buy and a consensus price target of $71.25.

Cidara Therapeutics Stock Performance

Cidara Therapeutics stock opened at $13.00 on Thursday. The company’s fifty day simple moving average is $15.37 and its 200-day simple moving average is $15.33. Cidara Therapeutics has a 12 month low of $10.00 and a 12 month high of $29.60.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CDTX. Pale Fire Capital SE acquired a new position in Cidara Therapeutics during the 3rd quarter worth $51,000. Flagship Harbor Advisors LLC acquired a new position in shares of Cidara Therapeutics during the third quarter valued at about $28,000. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Cidara Therapeutics by 25.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 79,119 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 15,912 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

Cidara Therapeutics Company Profile

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.