Today, Cidara Therapeutics Inc. (CDTX) Upgraded by Zacks Investment Research to “Hold”

Today, Cidara Therapeutics Inc. (CDTX) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Cidara Therapeutics Inc. (NASDAQ:CDTX) from a sell rating to a hold rating in a research note published on Monday.

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. “

Several other equities research analysts have also recently weighed in on CDTX. Needham & Company LLC reiterated a buy rating and issued a $20.00 target price on shares of Cidara Therapeutics in a report on Monday, August 15th. BTIG Research reiterated a buy rating and issued a $24.00 target price on shares of Cidara Therapeutics in a report on Monday, August 15th. Wedbush reiterated an outperform rating on shares of Cidara Therapeutics in a report on Tuesday, August 16th. Finally, WBB Securities cut Cidara Therapeutics from a hold rating to a sell rating and set a $10.50 target price for the company. in a report on Friday, September 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Cidara Therapeutics presently has a consensus rating of Buy and an average price target of $17.90.

Cidara Therapeutics (NASDAQ:CDTX) traded up 0.40% during midday trading on Monday, reaching $9.95. The company had a trading volume of 1,193 shares. The company’s market capitalization is $138.36 million. Cidara Therapeutics has a 1-year low of $9.48 and a 1-year high of $18.07. The firm has a 50-day moving average of $11.23 and a 200 day moving average of $11.72.

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

Large investors have recently modified their holdings of the company. Teachers Advisors Inc. boosted its stake in shares of Cidara Therapeutics by 103.0% in the second quarter. Teachers Advisors Inc. now owns 14,066 shares of the biotechnology company’s stock worth $145,000 after buying an additional 7,137 shares during the period. Rhumbline Advisers acquired a new position in shares of Cidara Therapeutics during the second quarter valued at about $145,000. Spark Investment Management LLC raised its position in shares of Cidara Therapeutics by 26.7% in the second quarter. Spark Investment Management LLC now owns 14,700 shares of the biotechnology company’s stock valued at $151,000 after buying an additional 3,100 shares in the last quarter. Schwab Charles Investment Management Inc. acquired a new position in shares of Cidara Therapeutics during the second quarter valued at about $177,000. Finally, Emerald Acquisition Ltd. acquired a new position in shares of Cidara Therapeutics during the second quarter valued at about $183,000. Hedge funds and other institutional investors own 49.90% of the company’s stock.

About Cidara Therapeutics

Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.

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