Cantor Fitzgerald Reaffirms Overweight Rating for Cidara Therapeutics (NASDAQ:CDTX)

Cantor Fitzgerald reaffirmed their overweight rating on shares of Cidara Therapeutics (NASDAQ:CDTXFree Report) in a report published on Thursday, Benzinga reports.

CDTX has been the subject of several other reports. HC Wainwright reaffirmed a buy rating and set a $120.00 price objective on shares of Cidara Therapeutics in a research note on Monday, April 8th. Needham & Company LLC reaffirmed a buy rating and set a $25.00 price target on shares of Cidara Therapeutics in a report on Thursday, May 16th. Finally, WBB Securities reissued a strong-buy rating and issued a $40.00 price objective on shares of Cidara Therapeutics in a research note on Thursday, April 25th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Buy and a consensus price target of $71.25.

Get Our Latest Report on Cidara Therapeutics

Cidara Therapeutics Trading Down 0.7 %

Shares of CDTX opened at $11.62 on Thursday. The company’s 50 day simple moving average is $12.63 and its 200-day simple moving average is $14.27. The firm has a market cap of $52.99 million, a PE ratio of -1.51 and a beta of 1.02. Cidara Therapeutics has a 12-month low of $10.00 and a 12-month high of $24.40.

Cidara Therapeutics (NASDAQ:CDTXGet Free Report) last issued its quarterly earnings data on Wednesday, May 15th. The biotechnology company reported ($2.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.50) by ($0.78). Cidara Therapeutics had a negative return on equity of 201.62% and a negative net margin of 73.46%. The business had revenue of $8.46 million for the quarter, compared to analysts’ expectations of $14.50 million. As a group, equities research analysts forecast that Cidara Therapeutics will post -13.07 EPS for the current fiscal year.

Insider Buying and Selling at Cidara Therapeutics

In related news, CEO Jeffrey Stein purchased 8,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was acquired at an average price of $13.21 per share, for a total transaction of $105,680.00. Following the acquisition, the chief executive officer now directly owns 24,580 shares of the company’s stock, valued at approximately $324,701.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.64% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Cidara Therapeutics

An institutional investor recently bought a new position in Cidara Therapeutics stock. Pale Fire Capital SE bought a new stake in Cidara Therapeutics, Inc. (NASDAQ:CDTXFree Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 54,356 shares of the biotechnology company’s stock, valued at approximately $51,000. Pale Fire Capital SE owned about 0.06% of Cidara Therapeutics as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 35.82% of the company’s stock.

About Cidara Therapeutics

(Get Free Report)

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.

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