Wall Street analysts predict that Cidara Therapeutics (NASDAQ:CDTX) will announce earnings of ($0.59) per share for the current quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Cidara Therapeutics’ earnings, with the lowest EPS estimate coming in at ($0.66) and the highest estimate coming in at ($0.55). Cidara Therapeutics reported earnings of ($0.99) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 40.4%. The business is expected to issue its next earnings report on Wednesday, August 8th.
According to Zacks, analysts expect that Cidara Therapeutics will report full year earnings of ($2.87) per share for the current fiscal year, with EPS estimates ranging from ($3.29) to ($2.49). For the next fiscal year, analysts anticipate that the business will report earnings of ($2.73) per share, with EPS estimates ranging from ($3.98) to ($1.94). Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side analysts that cover Cidara Therapeutics.
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Cidara Therapeutics (NASDAQ:CDTX) last issued its earnings results on Thursday, May 10th. The biotechnology company reported ($0.80) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.70) by ($0.10).
CDTX has been the subject of several research analyst reports. Cantor Fitzgerald set a $15.00 price target on shares of Cidara Therapeutics and gave the company a “buy” rating in a research report on Tuesday, February 27th. Zacks Investment Research downgraded shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. ValuEngine upgraded shares of Cidara Therapeutics from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, WBB Securities upgraded shares of Cidara Therapeutics from a “hold” rating to a “buy” rating in a research report on Wednesday, May 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Cidara Therapeutics has an average rating of “Hold” and a consensus price target of $12.92.
In other news, CEO Jeffrey Stein purchased 212,766 shares of Cidara Therapeutics stock in a transaction that occurred on Wednesday, May 23rd. The stock was acquired at an average price of $4.70 per share, for a total transaction of $1,000,000.20. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 15.20% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. Trexquant Investment LP lifted its position in shares of Cidara Therapeutics by 119.9% in the 1st quarter. Trexquant Investment LP now owns 32,845 shares of the biotechnology company’s stock valued at $131,000 after acquiring an additional 17,912 shares in the last quarter. Northern Trust Corp lifted its position in Cidara Therapeutics by 102.5% in the 1st quarter. Northern Trust Corp now owns 35,581 shares of the biotechnology company’s stock worth $142,000 after buying an additional 18,014 shares in the last quarter. Eversept Partners LLC purchased a new stake in Cidara Therapeutics in the 4th quarter worth approximately $340,000. JPMorgan Chase & Co. lifted its position in Cidara Therapeutics by 87.0% in the 1st quarter. JPMorgan Chase & Co. now owns 69,172 shares of the biotechnology company’s stock worth $277,000 after buying an additional 32,181 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Cidara Therapeutics by 26.2% in the 4th quarter. Renaissance Technologies LLC now owns 179,300 shares of the biotechnology company’s stock worth $1,219,000 after buying an additional 37,197 shares in the last quarter. Institutional investors and hedge funds own 64.09% of the company’s stock.
Shares of NASDAQ:CDTX traded down $0.15 during mid-day trading on Monday, hitting $5.25. The stock had a trading volume of 127,320 shares, compared to its average volume of 202,973. The company has a debt-to-equity ratio of 0.15, a quick ratio of 5.99 and a current ratio of 5.99. The company has a market cap of $115.51 million, a PE ratio of -1.65 and a beta of 2.19. Cidara Therapeutics has a 12-month low of $3.70 and a 12-month high of $8.80.
Cidara Therapeutics Company Profile
Cidara Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-infectives for the treatment of diseases. Its lead product candidate is rezafungin acetate, a molecule in the echinocandin class of antifungals for the treatment and prevention of serious invasive fungal infections, including candidemia and invasive candidiasis, fungal infections associated with high mortality rates.
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