Raymond James Financial, Inc. initiated coverage on shares of Cidara Therapeutics Inc (NASDAQ:CDTX) in a research report released on Thursday morning. The brokerage issued a strong-buy rating and a $14.00 target price on the biotechnology company’s stock.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC reissued a buy rating and set a $10.00 target price on shares of Cidara Therapeutics in a report on Monday, April 10th. Cantor Fitzgerald reissued a buy rating and set a $9.00 target price on shares of Cidara Therapeutics in a report on Thursday, March 16th. Zacks Investment Research lowered shares of Cidara Therapeutics from a buy rating to a sell rating in a report on Monday, March 20th. Wedbush reissued an outperform rating and set a $13.00 target price on shares of Cidara Therapeutics in a report on Monday, April 10th. Finally, Ladenburg Thalmann Financial Services initiated coverage on shares of Cidara Therapeutics in a research report on Wednesday, April 12th. They issued a buy rating and a $11.25 price target on the stock. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of Buy and an average price target of $12.95.

Analyst Recommendations for Cidara Therapeutics (NASDAQ:CDTX)

Shares of Cidara Therapeutics (NASDAQ:CDTX) traded up 11.90% during mid-day trading on Thursday, reaching $7.05. 265,418 shares of the company’s stock traded hands. Cidara Therapeutics has a 12 month low of $6.10 and a 12 month high of $14.43. The stock’s market cap is $118.45 million. The firm has a 50 day moving average price of $7.11 and a 200-day moving average price of $9.34.

Cidara Therapeutics (NASDAQ:CDTX) last posted its earnings results on Wednesday, March 15th. The biotechnology company reported ($0.88) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.79) by $0.09. During the same period in the previous year, the company earned ($0.72) EPS. On average, analysts predict that Cidara Therapeutics will post ($3.49) earnings per share for the current fiscal year.

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In other news, insider Kevin Forrest purchased 12,500 shares of the company’s stock in a transaction dated Friday, March 31st. The shares were purchased at an average price of $7.75 per share, for a total transaction of $96,875.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Stein purchased 12,900 shares of the company’s stock in a transaction dated Friday, March 31st. The stock was purchased at an average price of $7.75 per share, for a total transaction of $99,975.00. The disclosure for this purchase can be found here. 22.20% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Spark Investment Management LLC increased its position in Cidara Therapeutics by 2.7% in the third quarter. Spark Investment Management LLC now owns 15,100 shares of the biotechnology company’s stock worth $172,000 after buying an additional 400 shares during the last quarter. Russell Investments Group Ltd. bought a new position in Cidara Therapeutics during the fourth quarter worth about $173,000. Turner Investments LLC increased its position in Cidara Therapeutics by 7.3% in the fourth quarter. Turner Investments LLC now owns 29,451 shares of the biotechnology company’s stock worth $306,000 after buying an additional 2,000 shares during the last quarter. State Street Corp increased its position in Cidara Therapeutics by 19.8% in the fourth quarter. State Street Corp now owns 109,830 shares of the biotechnology company’s stock worth $1,142,000 after buying an additional 18,132 shares during the last quarter. Finally, Oxford Asset Management bought a new position in Cidara Therapeutics during the fourth quarter worth about $133,000. Hedge funds and other institutional investors own 47.34% of the company’s stock.

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.

5 Day Chart for NASDAQ:CDTX

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