Cidara Therapeutics Inc (NASDAQ:CDTX) is a biotechnology company focused on developing innovative therapies to treat serious diseases. Recently, RBC Capital set a price target of $221.50 for CDTX, which is a 1.74% increase from its current price of $217.71. This target aligns with Merck & Co Inc's acquisition offer, which values CDTX at $221.50 per share.
Merck's acquisition of Cidara is a significant $9.2 billion cash deal, as highlighted by Proactive Investors. This acquisition price is more than double Cidara's stock price before the announcement. Following the news, CDTX shares surged by 105%, reaching $217. This increase reflects the market's positive response to the acquisition.
The current price of CDTX is $217.71, marking a 105.41% increase with a change of $111.72. The stock has fluctuated between $216.80 and $218.85 today, with the latter being its highest price over the past year. The lowest price for CDTX in the past year was $13.90, indicating significant growth.
CDTX has a market capitalization of approximately $5.52 billion, reflecting its increased valuation following the acquisition announcement. The trading volume for CDTX today is 17.29 million shares, indicating high investor interest.
