Cidara Therapeutics (NASDAQ:CDTX) Given “Buy” Rating at HC Wainwright

HC Wainwright restated their buy rating on shares of Cidara Therapeutics (NASDAQ:CDTX) in a report released on Monday,Benzinga reports. HC Wainwright currently has a $24.00 price target on the biotechnology company’s stock. HC Wainwright also issued estimates for Cidara Therapeutics’ Q4 2024 earnings at ($5.28) EPS, FY2024 earnings at ($8.74) EPS, Q1 2025 earnings at ($5.13) EPS, Q2 2025 earnings at ($4.96) EPS, Q3 2025 earnings at ($4.27) EPS, Q4 2025 earnings at ($1.81) EPS, FY2025 earnings at ($14.39) EPS, FY2026 earnings at ($18.43) EPS, FY2027 earnings at ($19.29) EPS and FY2028 earnings at ($8.50) EPS.

Several other research analysts have also commented on CDTX. StockNews.com raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, September 13th. Guggenheim began coverage on shares of Cidara Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $33.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price objective on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $30.50.

Cidara Therapeutics Stock Performance

NASDAQ CDTX opened at $14.48 on Monday. Cidara Therapeutics has a one year low of $10.00 and a one year high of $24.40. The company has a 50-day simple moving average of $11.73 and a 200-day simple moving average of $12.10. The firm has a market capitalization of $102.04 million, a PE ratio of -0.57 and a beta of 0.99.

Cidara Therapeutics (NASDAQ:CDTX) last posted its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) EPS for the quarter, beating the consensus estimate of ($3.94) by $1.89. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%. The business had revenue of $0.30 million during the quarter. Equities analysts forecast that Cidara Therapeutics will post -12.06 earnings per share for the current year.

Institutional Trading of Cidara Therapeutics

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. increased its holdings in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,000 shares of the biotechnology company’s stock after purchasing an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.

About Cidara Therapeutics

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.