Equities research analysts expect Cidara Therapeutics Inc (NASDAQ:CDTX) to announce earnings per share (EPS) of ($0.58) for the current quarter, Zacks reports. Zero analysts have provided estimates for Cidara Therapeutics’ earnings, with estimates ranging from ($0.60) to ($0.56). Cidara Therapeutics reported earnings of ($0.73) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 20.5%. The business is scheduled to announce its next earnings results on Wednesday, November 14th.
According to Zacks, analysts expect that Cidara Therapeutics will report full year earnings of ($2.72) per share for the current financial year, with EPS estimates ranging from ($3.16) to ($2.49). For the next financial year, analysts forecast that the business will report earnings of ($2.24) per share, with EPS estimates ranging from ($2.57) to ($1.94). Zacks’ EPS averages are a mean average based on a survey of analysts that cover Cidara Therapeutics.
Cidara Therapeutics (NASDAQ:CDTX) last announced its earnings results on Wednesday, August 8th. The biotechnology company reported ($1.13) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.66) by ($0.47).
Several research analysts have issued reports on the company. Needham & Company LLC set a $14.00 target price on Cidara Therapeutics and gave the company a “buy” rating in a research report on Thursday, August 9th. ValuEngine lowered Cidara Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Monday, July 2nd. Cantor Fitzgerald restated a “buy” rating and set a $15.00 target price on shares of Cidara Therapeutics in a research report on Wednesday, August 8th. Zacks Investment Research lowered Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. Finally, Citigroup assumed coverage on Cidara Therapeutics in a research report on Wednesday, July 25th. They set a “buy” rating and a $8.00 target price for the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Cidara Therapeutics presently has an average rating of “Buy” and an average target price of $11.60.
Shares of NASDAQ:CDTX traded up $0.10 during trading hours on Monday, hitting $4.35. 55,642 shares of the company’s stock traded hands, compared to its average volume of 171,200. Cidara Therapeutics has a 1 year low of $3.65 and a 1 year high of $8.80. The firm has a market capitalization of $125.94 million, a PE ratio of -1.37 and a beta of 1.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 7.11 and a quick ratio of 7.11.
In other Cidara Therapeutics news, CEO Jeffrey Stein bought 212,766 shares of the company’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 15.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Omega Fund Management LLC boosted its holdings in shares of Cidara Therapeutics by 239.1% in the second quarter. Omega Fund Management LLC now owns 1,508,794 shares of the biotechnology company’s stock valued at $7,846,000 after purchasing an additional 1,063,829 shares during the period. Opaleye Management Inc. purchased a new stake in shares of Cidara Therapeutics in the second quarter valued at approximately $6,240,000. Granahan Investment Management Inc. MA purchased a new stake in shares of Cidara Therapeutics in the second quarter valued at approximately $2,371,000. Stonepine Capital Management LLC purchased a new stake in shares of Cidara Therapeutics in the second quarter valued at approximately $2,213,000. Finally, BlackRock Inc. boosted its holdings in shares of Cidara Therapeutics by 22.9% in the second quarter. BlackRock Inc. now owns 306,678 shares of the biotechnology company’s stock valued at $1,594,000 after purchasing an additional 57,138 shares during the period. Hedge funds and other institutional investors own 54.01% of the company’s stock.
About Cidara Therapeutics
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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