Maxim Group analyst Jason McCarthy assigned a Buy rating to Cidara Therapeutics (CDTX – Research Report) yesterday and set a price target of $8.00. The company’s shares closed last Tuesday at $2.12, close to its 52-week low of $1.82.
According to TipRanks.com, McCarthy is a 5-star analyst with an average return of 38.9% and a 47.7% success rate. McCarthy covers the Healthcare sector, focusing on stocks such as Brainstorm Cell Therapeutics, Lineage Cell Therapeutics, and Monopar Therapeutics Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cidara Therapeutics with a $7.67 average price target.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.