Cidara Therapeutics Inc (NASDAQ:CDTX) has received a consensus recommendation of “Buy” from the seven research firms that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and six have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $6.65.
Several research firms have recently issued reports on CDTX. Needham & Company LLC initiated coverage on Cidara Therapeutics in a report on Thursday, May 14th. They issued a “buy” rating and a $6.00 target price for the company. Maxim Group started coverage on Cidara Therapeutics in a research note on Thursday, May 21st. They issued a “buy” rating and a $10.00 price objective for the company. ValuEngine raised Cidara Therapeutics from a “hold” rating to a “buy” rating in a research report on Thursday, May 14th. Finally, Zacks Investment Research cut Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, June 10th.
A number of hedge funds have recently modified their holdings of CDTX. Stonepine Capital Management LLC purchased a new stake in shares of Cidara Therapeutics during the first quarter worth $3,231,000. Alethea Capital Management LLC lifted its holdings in Cidara Therapeutics by 58.6% during the 1st quarter. Alethea Capital Management LLC now owns 894,855 shares of the biotechnology company’s stock worth $2,219,000 after purchasing an additional 330,542 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Cidara Therapeutics by 17.8% in the 4th quarter. Renaissance Technologies LLC now owns 795,658 shares of the biotechnology company’s stock worth $3,055,000 after purchasing an additional 119,970 shares during the period. Granahan Investment Management Inc. MA boosted its stake in Cidara Therapeutics by 22.4% in the 1st quarter. Granahan Investment Management Inc. MA now owns 575,292 shares of the biotechnology company’s stock worth $1,427,000 after purchasing an additional 105,172 shares during the period. Finally, West Family Investments Inc. grew its holdings in Cidara Therapeutics by 23.0% during the 1st quarter. West Family Investments Inc. now owns 368,910 shares of the biotechnology company’s stock valued at $915,000 after buying an additional 68,910 shares in the last quarter. 55.14% of the stock is currently owned by institutional investors and hedge funds.
Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Wednesday, May 13th. The biotechnology company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.12). The company had revenue of $2.53 million for the quarter, compared to analyst estimates of $5.00 million. On average, equities analysts expect that Cidara Therapeutics will post -1.49 earnings per share for the current fiscal year.
About Cidara Therapeutics
Cidara Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-infectives for the treatment of diseases. Its lead product candidate is rezafungin acetate, a molecule in the echinocandin class of antifungals for the treatment and prevention of serious invasive fungal infections, including candidemia and invasive candidiasis, fungal infections associated with high mortality rates.
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