Cidara Therapeutics (NASDAQ:CDTX) Upgraded at Cantor Fitzgerald

Cidara Therapeutics (NASDAQ:CDTX) was upgraded by investment analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also commented on CDTX. HC Wainwright reissued a “buy” rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a report on Monday, November 11th. Guggenheim started coverage on shares of Cidara Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $33.00 price target for the company. Royal Bank of Canada assumed coverage on shares of Cidara Therapeutics in a report on Friday, December 13th. They set an “outperform” rating and a $34.00 price objective on the stock. StockNews.com lowered shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Finally, WBB Securities raised their price target on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research note on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $32.20.

Cidara Therapeutics Stock Up 0.9 %

NASDAQ:CDTX opened at $20.22 on Wednesday. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $28.42. The stock’s 50-day moving average price is $22.09 and its 200-day moving average price is $15.85. The stock has a market capitalization of $142.55 million, a PE ratio of -0.79 and a beta of 0.94.

Institutional Trading of Cidara Therapeutics

Hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its stake in shares of Cidara Therapeutics by 22.7% in the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after acquiring 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 valued at about $7,558,000. Finally, Checkpoint Capital L.P. increased its position in Cidara Therapeutics by 25.5% during the third quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock worth $1,961,000 after purchasing an additional 37,009 shares during the last quarter. Institutional investors and hedge funds 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.