Cidara Therapeutics Inc. [CDTX] stock Resumed by H.C. Wainwright analyst, price target now $6

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Cidara Therapeutics Inc. [NASDAQ: CDTX] closed the trading session at $0.76 on 07/27/22. The day’s price range saw the stock hit a low of $0.75, while the highest price level was $0.88. The company report on July 27, 2022 that Cidara Therapeutics Submits NDA for Rezafungin and Announces License Agreement with Melinta Therapeutics for Commercialization of Rezafungin in the U.S.


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Submitted NDA for rezafungin for candidemia and invasive candidiasis to the U.S. FDA on July 22, 2022, with an anticipated PDUFA target action date in the first quarter of 2023, if accepted for review following application validation.

Melinta acquires exclusive rights to commercialize rezafungin in the U.S.

The stocks have a year to date performance of -40.01 percent and weekly performance of 17.04 percent. The stock has been moved at -8.98 percent over the last six months. The stock has performed 43.75 percent around the most recent 30 days and changed -1.65 percent over the most recent 3-months.

If compared to the average trading volume of 329.48K shares, CDTX reached to a volume of 9692084 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Cidara Therapeutics Inc. [CDTX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CDTX shares is $5.71 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CDTX stock is a recommendation set at 1.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Cidara Therapeutics Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 03, 2021. The new note on the price target was released on September 22, 2021, representing the official price target for Cidara Therapeutics Inc. stock. Previously, the target price had yet another raise to $9, while Aegis Capital analysts kept a Buy rating on CDTX stock. On September 04, 2019, analysts increased their price target for CDTX shares from 2 to 4.

The Average True Range (ATR) for Cidara Therapeutics Inc. is set at 0.09, with the Price to Sales ratio for CDTX stock in the period of the last 12 months amounting to 0.94. The Price to Book ratio for the last quarter was 10.88, with the Price to Cash per share for the same quarter was set at 0.54.

CDTX stock trade performance evaluation

Cidara Therapeutics Inc. [CDTX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.04. With this latest performance, CDTX shares gained by 43.75% in over the last four-week period, additionally sinking by -8.98% over the last 6 months – not to mention a drop of -49.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CDTX stock in for the last two-week period is set at 63.38, with the RSI for the last a single of trading hit 65.84, and the three-weeks RSI is set at 60.73 for Cidara Therapeutics Inc. [CDTX]. The present Moving Average for the last 50 days of trading for this stock 0.5524, while it was recorded at 0.6918 for the last single week of trading, and 0.9550 for the last 200 days.

Cidara Therapeutics Inc. [CDTX]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Cidara Therapeutics Inc. [CDTX] shares currently have an operating margin of -85.24 and a Gross Margin at +99.62. Cidara Therapeutics Inc.’s Net Margin is presently recorded at -85.67.

Return on Equity for this stock declined to -263.05, with Return on Assets sitting at -62.31.

Cidara Therapeutics Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.

Cidara Therapeutics Inc. [CDTX]: Insider Ownership positions

There are presently around $23 million, or 45.60% of CDTX stock, in the hands of institutional investors. The top three institutional holders of CDTX stocks are: BVF INC/IL with ownership of 6,861,127, which is approximately 0% of the company’s market cap and around 2.80% of the total institutional ownership; NANTAHALA CAPITAL MANAGEMENT, LLC, holding 4,954,882 shares of the stock with an approximate value of $3.78 million in CDTX stocks shares; and POINT72 ASSET MANAGEMENT, L.P., currently with $3.2 million in CDTX stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Cidara Therapeutics Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 16 institutional holders increased their position in Cidara Therapeutics Inc. [NASDAQ:CDTX] by around 1,118,503 shares. Additionally, 27 investors decreased positions by around 1,919,608 shares, while 15 investors held positions by with 27,691,422 shares. The mentioned changes placed institutional holdings at 30,729,533 shares, according to the latest SEC report filing. CDTX stock had 2 new institutional investments in for a total of 379,999 shares, while 13 institutional investors sold positions of 792,410 shares during the same period.

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