Cidara Therapeutics (NASDAQ:CDTX) Price Target Raised to $45.00

Cidara Therapeutics (NASDAQ:CDTX) had its price target hoisted by WBB Securities from $40.00 to $45.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has a strong-buy rating on the biotechnology company’s stock.

A number of other brokerages also recently issued reports on CDTX. HC Wainwright reaffirmed a “buy” rating and set a $24.00 price target on shares of Cidara Therapeutics in a research report on Monday, November 11th. Guggenheim assumed coverage on Cidara Therapeutics in a research report on Friday, November 8th. They set a “buy” rating and a $33.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price target on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Finally, StockNews.com downgraded Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.75.

Cidara Therapeutics Stock Up 19.1 %

Cidara Therapeutics stock opened at $23.73 on Thursday. The business has a fifty day moving average of $14.04 and a two-hundred day moving average of $12.80. The firm has a market cap of $167.30 million, a P/E ratio of -0.93 and a beta of 1.13. Cidara Therapeutics has a twelve month low of $10.00 and a twelve month high of $24.40.

Hedge Funds Weigh In On Cidara Therapeutics

Several hedge funds have recently made changes to their positions in CDTX. Geode Capital Management LLC grew its position in Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after purchasing an additional 9,771 shares during the period. Checkpoint Capital L.P. grew its position in Cidara Therapeutics by 25.5% during the 3rd 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 period. Finally, RA Capital Management L.P. acquired a new stake in Cidara Therapeutics during the 3rd quarter worth about $7,558,000. 35.82% of the stock is owned by institutional investors and hedge funds.

Cidara Therapeutics Company Profile

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.