Cidara Therapeutics (NASDAQ:CDTX) Upgraded at StockNews.com

StockNews.com upgraded shares of Cidara Therapeutics (NASDAQ:CDTX) to a sell rating in a research report report published on Friday morning.

A number of other research analysts have also weighed in on the stock. Citigroup began coverage on shares of Cidara Therapeutics in a research report on Wednesday, March 12th. They set an “outperform” rating for the company. Royal Bank of Canada began coverage on Cidara Therapeutics in a research report on Friday, December 13th. They set an “outperform” rating and a $34.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $35.00 target price on shares of Cidara Therapeutics in a report on Friday, March 7th. JMP Securities set a $46.00 price target on Cidara Therapeutics in a report on Wednesday, March 12th. Finally, Cantor Fitzgerald upgraded shares of Cidara Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Cidara Therapeutics has a consensus rating of “Buy” and a consensus target price of $39.14.

Cidara Therapeutics Stock Performance

Shares of NASDAQ CDTX opened at $16.43 on Friday. The business’s 50-day simple moving average is $21.62 and its 200-day simple moving average is $18.73. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $28.42. The firm has a market cap of $179.96 million, a price-to-earnings ratio of -0.64 and a beta of 0.89.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) EPS for the quarter, missing the consensus estimate of ($5.28) by ($0.10). Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. As a group, equities research analysts forecast that Cidara Therapeutics will post -8.74 earnings per share for the current year.

Insider Activity at Cidara Therapeutics

In other news, COO Shane Ward sold 1,664 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $36,541.44. Following the sale, the chief operating officer now directly owns 14,674 shares in the company, valued at approximately $322,241.04. This represents a 10.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Leslie Tari sold 1,773 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $38,935.08. Following the completion of the transaction, the insider now directly owns 16,215 shares of the company’s stock, valued at approximately $356,081.40. The trade was a 9.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.64% of the stock is currently owned by corporate insiders.

Institutional Trading of Cidara Therapeutics

Large investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Cidara Therapeutics in the 4th quarter valued at $56,000. Northern Trust Corp lifted its holdings in Cidara Therapeutics by 6.8% during the 4th quarter. Northern Trust Corp now owns 33,957 shares of the biotechnology company’s stock valued at $913,000 after purchasing an additional 2,170 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Cidara Therapeutics in the fourth quarter valued at about $165,000. Geode Capital Management LLC grew its stake in Cidara Therapeutics by 22.7% during the third quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after buying an additional 9,771 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp acquired a new stake in shares of Cidara Therapeutics during the fourth quarter worth approximately $339,000. 35.82% of the stock is currently owned by institutional investors.

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.