WBB Securities Downgrades Cidara Therapeutics Inc to Sell

Brokerage firm WBB Securities Downgrades its rating on Cidara Therapeutics Inc(NASDAQ:CDTX). The shares have been rated Sell. Previously, the analysts had a Hold rating on the shares. The rating by WBB Securities was issued on Sep 23, 2016.

Cidara Therapeutics Inc (CDTX) made into the market gainers list on Tuesdays trading session with the shares advancing 3.17% or 0.37 points. Due to strong positive momentum, the stock ended at $12.04, which is also near the day’s high of $12.21. The stock began the session at $11.68 and the volume stood at 31,373 shares. The 52-week high of the shares is $18.07 and the 52 week low is $9.48. The company has a current market capitalization of $167 M and it has 1,39,06,654 shares in outstanding.

Cidara Therapeutics Inc(CDTX) last announced its earnings results on Aug 11, 2016 for Fiscal Year 2016 and Q2.Earnings per share were $-0.85. Analysts had estimated an EPS of $-0.76.

Several Insider Transactions has been reported to the SEC. On May 23, 2016, Kevin Forrest (CFO) purchased 4,356 shares at $11.53 per share price.Also, On May 23, 2016, Jeffrey Stein (CEO) purchased 4,310 shares at $11.51 per share price.On Apr 22, 2015, Nina S Kjellson (director) purchased 200,000 shares at $16.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Cidara Therapeutics Inc. formerly K2 Therapeutics Inc. is a biotechnology company. The Company is focused on the discovery development and commercialization of anti-infective products. The Company’s products are the formulations of its compound CD101 which is an echinocandin. Its products include CD101 intravenous (biafungin) and CD101 topical (topifungin). In addition it owns an immunotherapy technology platform Cloudbreak. The Company is also developing other candidates for the treatment of bacterial and viral infections. CD101 IV and CD101 topical are in early stage of preclinical development. The Company’s Cloudbreak development candidates includeC001 and C016. It has conducted preclinical studies to evaluate the tolerability toxicity and pharmacokinetic profile of C001 in mice and guinea pigs. Cloudbreak development candidates have demonstrated preclinical proof-of-principle efficacy and safety in preclinical studies.

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