The biggest gainers of the session on the Wall Street include Cidara Therapeutics, Inc. (NASDAQ:CDTX), which rose 0.09 points or 3.06% to trade at $3.03 as last check. The stock closed last session at $2.94 and sets an active trading volume day with a reported 124116 contracts so far this session. CDTX shares had a relatively better volume day versus average trading capacity of 354.16 thousand shares, but with a 27.6 million float and a -1.01% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for CDTX stock indicates that the average analyst price target is $6.89 per share. This means the stock has a potential increase of 127.39% from where the CDTX share price has been trading recently.
During the recent trading session for Cidara Therapeutics, Inc. (NASDAQ:CDTX), the company witnessed their stock rise $0.1 over a week and tumble down $-0.65 from the price 20 days ago. When compared to their established 52-week high of $4.44, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 01/27/20. The recent low of $1.22 stood for a -31.76% since 08/16/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 2.3 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Cidara Therapeutics, Inc., the two-week RSI stands at 46.92. This figure suggests that CDTX stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current CDTX readings is similarly very revealing as it has a stochastic reading of 12.83% at this stage. This figure means that CDTX share price today is being overbought.
Technical chart claims that Cidara Therapeutics, Inc. (CDTX) would settle between $3.09/share to $3.23/share level. However, if the stock price goes below the $2.85 mark, then the market for Cidara Therapeutics, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $2.75 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.04. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Wedbush raised their recommendation on shares of CDTX from Neutral to Outperform in their opinion released on September 04. Citigroup, analysts launched coverage of Cidara Therapeutics, Inc. (NASDAQ:CDTX) stock with a Buy recommendation, according to their flash note issued to investors on July 26. Analysts at Raymond James, made their first call for the equity with a Strong Buy recommendation, according to a research note that dated back to April 21.
CDTX equity has an average rating of 1.43, with the figure leaning towards a bullish end. 7 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 7 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 7 analysts rated Cidara Therapeutics, Inc. (NASDAQ:CDTX) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.