Today, Cidara Therapeutics Inc. (CDTX) Receives Consensus Recommendation of “Hold” from Brokerages

Today, Cidara Therapeutics Inc. (CDTX) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Cidara Therapeutics Inc. (NASDAQ:CDTX) have earned an average rating of “Hold” from the seven brokerages that are covering the stock. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $18.17.

Several research analysts have commented on the stock. Zacks Investment Research raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Monday, August 29th. WBB Securities lowered shares of Cidara Therapeutics from a “hold” rating to a “sell” rating and set a $10.50 price objective for the company. in a research note on Friday, September 23rd. Wedbush reissued an “outperform” rating on shares of Cidara Therapeutics in a research note on Tuesday, August 16th. BTIG Research reissued a “buy” rating and set a $24.00 target price on shares of Cidara Therapeutics in a research note on Monday, August 15th. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of Cidara Therapeutics in a research note on Monday, August 15th.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Fund Advisors raised its stake in Cidara Therapeutics by 123.6% in the second quarter. BlackRock Fund Advisors now owns 275,247 shares of the biotechnology company’s stock worth $2,838,000 after buying an additional 152,122 shares during the period. Bridgeway Capital Management Inc. acquired a new stake in Cidara Therapeutics during the second quarter worth $825,000. Tekla Capital Management LLC raised its stake in Cidara Therapeutics by 82.7% in the second quarter. Tekla Capital Management LLC now owns 132,472 shares of the biotechnology company’s stock worth $1,366,000 after buying an additional 59,972 shares during the period. Perceptive Advisors LLC raised its stake in Cidara Therapeutics by 6.7% in the second quarter. Perceptive Advisors LLC now owns 792,857 shares of the biotechnology company’s stock worth $8,174,000 after buying an additional 49,999 shares during the period. Finally, State Street Corp raised its stake in Cidara Therapeutics by 115.7% in the second quarter. State Street Corp now owns 80,821 shares of the biotechnology company’s stock worth $833,000 after buying an additional 43,344 shares during the period. 49.90% of the stock is owned by institutional investors.

Shares of Cidara Therapeutics (NASDAQ:CDTX) opened at 9.92 on Wednesday. Cidara Therapeutics has a 12 month low of $9.48 and a 12 month high of $18.07. The stock’s market capitalization is $137.95 million. The company’s 50-day moving average is $11.26 and its 200 day moving average is $11.73.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings data on Thursday, August 11th. The biotechnology company reported ($0.85) EPS for the quarter, missing the consensus estimate of ($0.76) by $0.09. Equities research analysts predict that Cidara Therapeutics will post ($3.35) earnings per share for the current year.

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