Maxim Group Maintains a Buy Rating on Cidara Therapeutics (CDTX)

By Jason Carr

Maxim Group analyst Jason McCarthy maintained a Buy rating on Cidara Therapeutics (CDTXResearch Report) yesterday and set a price target of $10.00. The company’s shares closed last Friday at $3.81.

According to, McCarthy is a 5-star analyst with an average return of 29.5% and a 51.1% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Lineage Cell Therapeutics, and Vertex Pharmaceuticals.

Currently, the analyst consensus on Cidara Therapeutics is a Strong Buy with an average price target of $7.33, implying a 93.9% upside from current levels. In a report issued on August 13, Oppenheimer also maintained a Buy rating on the stock with a $6.00 price target.

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Based on Cidara Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $2.53 million and GAAP net loss of $14.54 million. In comparison, last year the company had a GAAP net loss of $16.56 million.

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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.