Cantor Fitzgerald reiterated their buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a report issued on Monday, AnalystRatings.com reports. They currently have a $15.00 price objective on the biotechnology company’s stock.
“CDTX’s pipeline is focused on better ways to treat fungal and bacterial infections as well as influenza. We expect pipeline advancements to drive upwards earnings revisions to levels not yet reflected in the consensus. Valuation Summary We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $15.”,” Cantor Fitzgerald’s analyst wrote.
CDTX has been the topic of a number of other reports. Zacks Investment Research lowered Cidara Therapeutics from a buy rating to a hold rating in a research report on Tuesday, January 29th. ValuEngine lowered Cidara Therapeutics from a hold rating to a sell rating in a research report on Tuesday, December 18th. Finally, Wedbush lowered their price target on Cidara Therapeutics from $12.00 to $7.00 and set an outperform rating for the company in a research report on Friday, March 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $9.40.
NASDAQ:CDTX opened at $2.57 on Monday. The stock has a market cap of $79.00 million, a PE ratio of -1.11 and a beta of 2.24. Cidara Therapeutics has a 1-year low of $1.94 and a 1-year high of $6.35.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in Cidara Therapeutics by 1.9% in the 4th quarter. BlackRock Inc. now owns 291,512 shares of the biotechnology company’s stock valued at $685,000 after purchasing an additional 5,563 shares during the period. Two Sigma Investments LP grew its stake in shares of Cidara Therapeutics by 96.6% during the 4th quarter. Two Sigma Investments LP now owns 29,349 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 14,421 shares during the period. Renaissance Technologies LLC grew its stake in shares of Cidara Therapeutics by 8.6% during the 3rd quarter. Renaissance Technologies LLC now owns 309,700 shares of the biotechnology company’s stock worth $1,363,000 after acquiring an additional 24,400 shares during the period. Alethea Capital Management LLC grew its stake in shares of Cidara Therapeutics by 10.3% during the 4th quarter. Alethea Capital Management LLC now owns 482,357 shares of the biotechnology company’s stock worth $1,134,000 after acquiring an additional 45,000 shares during the period. Finally, Trellus Management Company LLC grew its stake in shares of Cidara Therapeutics by 105.8% during the 4th quarter. Trellus Management Company LLC now owns 94,143 shares of the biotechnology company’s stock worth $221,000 after acquiring an additional 48,391 shares during the period. Hedge funds and other institutional investors own 63.56% of the company’s stock.
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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