Here’s Why Cidara Therapeutics, Inc. (CDTX) Is Skyrocketing

We recently compiled a list of the Why These 24 Stocks Are Skyrocketing. In this article, we are going to take a look at where Cidara Therapeutics, Inc. (NASDAQ:CDTX) stands against the other stocks.

One of the strongest stock market anomalies is the momentum effect, which is the tendency of recent past winners to outperform the recent past losers. That’s why we decided to take a look at some of the recent past winners in this article. These 24 companies, predominantly involved in the quantum computing, biotechnology, and technology sectors, have performed significantly well in the final quarter of 2024, registering spectacular returns over the 3 months.

That said, let’s take a look at the top 24 stocks that have skyrocketed and pose a solid growth opportunity in the coming year. We will also explore how well the stocks have performed throughout the year and what they have in store for 2025.

To come up with 24 names, we considered only the stocks that have at least $2 billion in market capitalization and have registered commendable returns in the fourth quarter of 2024.

A closeup of a laboratory technician monitoring a computer for the Cloudbreak platform.

Cidara Therapeutics, Inc. (NASDAQ:CDTX)

Q4 Returns as of December 31, 2024: 150%

Shares of CDTX rose to $26.9 on December 31, marking a 150% increase from the $10.75 close on September 30, 2024, emphasizing investors’ optimism on the company’s further growth potential in the therapeutics industry.

Analysts expect CDTX to reach $33, implying an upside of 24% from current levels. According to analysts, the company has grown its revenue by 45% year-over-year and by 19% over the past five years.

Earlier, analyst firm WBB Securities rated the stock as a strong buy and raised its price target for CDTX from $40 to $45. Similarly, analyst firm RBC Capital initiated an outperform rating following a price target of $34.

Overall CDTX ranks 20th on our list of the stocks that are skyrocketing right now. While we acknowledge the potential of CDTX as an investment, our conviction lies in the belief that certain AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CDTX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock.

Disclosure: None. This article is originally published at Insider Monkey.