Fintel reports that on November 8, 2024, Guggenheim initiated coverage of Cidara Therapeutics (NasdaqCM:CDTX) with a Buy recommendation.
Analyst Price Forecast Suggests 124.15% Upside
As of October 22, 2024, the average one-year price target for Cidara Therapeutics is $30.26/share. The forecasts range from a low of $24.24 to a high of $42.00. The average price target represents an increase of 124.15% from its latest reported closing price of $13.50 / share.
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The projected annual revenue for Cidara Therapeutics is 30MM, a decrease of 27.70%. The projected annual non-GAAP EPS is -0.55.
What is the Fund Sentiment?
There are 43 funds or institutions reporting positions in Cidara Therapeutics. This is an increase of 18 owner(s) or 72.00% in the last quarter. Average portfolio weight of all funds dedicated to CDTX is 0.07%, an increase of 1,302.53%. Total shares owned by institutions decreased in the last three months by 60.37% to 1,441K shares. 
The put/call ratio of CDTX is 0.00, indicating a bullish outlook.
What are Other Shareholders Doing?
Monashee Investment Management holds 369K shares representing 5.24% ownership of the company.
Bvf holds 343K shares representing 4.87% ownership of the company.
Checkpoint Capital holds 145K shares representing 2.07% ownership of the company.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 122K shares representing 1.73% ownership of the company. In its prior filing, the firm reported owning 2,167K shares , representing a decrease of 1,682.43%. The firm decreased its portfolio allocation in CDTX by 29.19% over the last quarter.
Renaissance Technologies holds 96K shares representing 1.36% ownership of the company.
Cidara Therapeutics Background Information
(This description is provided by the company.)
Cidara Therapeutics Inc. isa is developing long-acting therapeutics designed to transform the standard of care for patients facing serious fungal or viral infections. The Company's portfolio is comprised of its lead antifungal candidate, rezafungin, in addition to antiviral conjugates (AVCs) for the prevention and treatment of influenza and other viral diseases from Cidara's proprietary Cloudbreak® antiviral platform. Cidara is headquartered in San Diego, California.
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