For Cidara Therapeutics Inc. [CDTX], Analyst sees a rise to $6. What next?

Cidara Therapeutics Inc. [NASDAQ: CDTX] surged by $0.3 during the normal trading session on Wednesday and reaching a high of $1.30 during the day while it closed the day at $1.28. The company report on January 25, 2023 that Cidara Therapeutics and Melinta Therapeutics Announce FDA Advisory Committee Recommends Approval of Rezafungin for the Treatment of Candidemia and Invasive Candidiasis.

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FDA decision expected by PDUFA target action date of March 22, 2023.

If approved, rezafungin will be the first new drug for the treatment of candidemia and invasive candidiasis in over a decade.

Cidara Therapeutics Inc. stock has also gained 0.79% of its value over the past 7 days. However, CDTX stock has inclined by 120.80% in the 3 months of the year. Over the past six months meanwhile, it has gained 87.55% and gained 69.25% year-on date.

The market cap for CDTX stock reached $151.05 million, with 70.22 million shares outstanding and 63.36 million shares in the current float. Compared to the average trading volume of 605.71K shares, CDTX reached a trading volume of 23133692 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 $5.50 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 1.80. 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 0.17, with the Price to Sales ratio for CDTX stock in the period of the last 12 months amounting to 2.46. The Price to Book ratio for the last quarter was 9.85, with the Price to Cash per share for the same quarter was set at 0.45.

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 0.79. With this latest performance, CDTX shares gained by 104.90% in over the last four-week period, additionally plugging by 87.55% over the last 6 months – not to mention a rise of 54.93% 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 63.02, with the RSI for the last a single of trading hit 61.73, and the three-weeks RSI is set at 62.63 for Cidara Therapeutics Inc. [CDTX]. The present Moving Average for the last 50 days of trading for this stock 0.7350, while it was recorded at 1.1103 for the last single week of trading, and 0.6610 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 1.90 and a Current Ratio set at 1.90.

Cidara Therapeutics Inc. [CDTX]: Insider Ownership positions

There are presently around $35 million, or 40.00% 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 1.20% of the total institutional ownership; NANTAHALA CAPITAL MANAGEMENT, LLC, holding 4,559,201 shares of the stock with an approximate value of $5.84 million in CDTX stocks shares; and POINT72 ASSET MANAGEMENT, L.P., currently with $4.95 million in CDTX stock with ownership of nearly -7.905% of the company’s market capitalization.

Positions in Cidara Therapeutics Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 16 institutional holders increased their position in Cidara Therapeutics Inc. [NASDAQ:CDTX] by around 1,052,156 shares. Additionally, 19 investors decreased positions by around 1,184,362 shares, while 15 investors held positions by with 24,836,731 shares. The mentioned changes placed institutional holdings at 27,073,249 shares, according to the latest SEC report filing. CDTX stock had 5 new institutional investments in for a total of 580,590 shares, while 8 institutional investors sold positions of 397,376 shares during the same period.


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