Cidara Therapeutics (CDTX) Received its Third Buy in a Row

By Jason Carr

After Needham and Wedbush gave Cidara Therapeutics (NASDAQ: CDTX) a Buy rating last month, the company received another Buy, this time from Oppenheimer. Analyst Kevin DeGeeter maintained a Buy rating on Cidara Therapeutics today and set a price target of $6.00. The company’s shares closed last Wednesday at $2.47.

According to TipRanks.com, DeGeeter is a 3-star analyst with an average return of 1.2% and a 36.9% success rate. DeGeeter covers the Healthcare sector, focusing on stocks such as Catalyst Biosciences, Molecular Templates, and Vascular Biogenics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cidara Therapeutics with a $5.33 average price target.

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The company has a one-year high of $4.45 and a one-year low of $1.23. Currently, Cidara Therapeutics has an average volume of 390.4K.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CDTX in relation to earlier this year.

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Cidara Therapeutics, Inc. is a biotechnology company, which engages in the discovery, development, and commercialization of novel anti-infectives. Its product pipeline includes Rezafungin and Cloudbreak. The company was founded by Kevin M. Forrest, Kevin J. Judice, and H. Shaw Warren in December 2012 and is headquartered in San Diego, CA.