Cidara Therapeutics (NASDAQ:CDTX) Lowered to Hold at Zacks Investment Research

Cidara Therapeutics (NASDAQ:CDTX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday, December 25th.

According to Zacks, “Cidara Therapeutics, Inc. is a biotechnology company. The company is focused on the discovery, development and commercialization of novel anti-infectives. Its product pipeline includes CD101 IV, a long-acting echinocandin antifungal, CD101 topical and C001 which are in different clinical trial. The company developed its product using Cloudbreak(TM) immunotherapy platform. Cidara Therapeutics, Inc. is headquartered in San Diego, California. “

A number of other research firms also recently issued reports on CDTX. Cantor Fitzgerald set a $15.00 price target on Cidara Therapeutics and gave the company a “buy” rating in a research report on Tuesday, November 28th. HC Wainwright boosted their price objective on Cidara Therapeutics from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Thursday, November 9th. Finally, ValuEngine cut Cidara Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Cidara Therapeutics currently has an average rating of “Buy” and an average price target of $12.93.

Shares of Cidara Therapeutics (NASDAQ:CDTX) opened at $7.60 on Monday. Cidara Therapeutics has a 1 year low of $5.60 and a 1 year high of $11.75. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.69 and a current ratio of 7.69. The stock has a market capitalization of $153.81 and a PE ratio of -2.24.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings results on Wednesday, November 8th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.94) by $0.21. equities research analysts forecast that Cidara Therapeutics will post -3.31 EPS for the current year.

In related news, major shareholder Target N. V. Biotech acquired 60,000 shares of Cidara Therapeutics stock in a transaction on Wednesday, November 15th. The shares were bought at an average price of $7.57 per share, for a total transaction of $454,200.00. Following the completion of the purchase, the insider now directly owns 2,295,272 shares in the company, valued at approximately $17,375,209.04. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 18.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in CDTX. Broadfin Capital LLC lifted its stake in shares of Cidara Therapeutics by 45.0% in the second quarter. Broadfin Capital LLC now owns 816,275 shares of the biotechnology company’s stock worth $6,122,000 after acquiring an additional 253,400 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Cidara Therapeutics in the second quarter worth about $650,000. BB Biotech AG lifted its stake in shares of Cidara Therapeutics by 5.6% in the second quarter. BB Biotech AG now owns 1,102,578 shares of the biotechnology company’s stock worth $8,269,000 after acquiring an additional 58,754 shares in the last quarter. Susquehanna International Group LLP acquired a new position in shares of Cidara Therapeutics in the second quarter worth about $350,000. Finally, JPMorgan Chase & Co. lifted its stake in shares of Cidara Therapeutics by 77.4% in the third quarter. JPMorgan Chase & Co. now owns 41,266 shares of the biotechnology company’s stock worth $328,000 after acquiring an additional 18,001 shares in the last quarter. Institutional investors and hedge funds own 55.45% of the company’s stock.

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Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.

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