Analysts Expect Cidara Therapeutics Inc (NASDAQ:CDTX) to Post -$0.51 Earnings Per Share

Analysts expect Cidara Therapeutics Inc (NASDAQ:CDTX) to announce earnings of ($0.51) per share for the current quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Cidara Therapeutics’ earnings. The lowest EPS estimate is ($0.65) and the highest is ($0.36). Cidara Therapeutics reported earnings per share of ($0.69) during the same quarter last year, which would suggest a positive year over year growth rate of 26.1%. The business is scheduled to issue its next earnings results on Wednesday, August 14th.

On average, analysts expect that Cidara Therapeutics will report full-year earnings of ($2.22) per share for the current fiscal year, with EPS estimates ranging from ($2.75) to ($1.69). For the next financial year, analysts anticipate that the company will report earnings of ($2.36) per share, with EPS estimates ranging from ($3.59) to ($1.12). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Cidara Therapeutics.

Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings results on Thursday, May 9th. The biotechnology company reported ($0.60) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.60).

Several brokerages recently weighed in on CDTX. Oppenheimer began coverage on Cidara Therapeutics in a report on Wednesday, June 5th. They set an “outperform” rating and a $6.00 price target for the company. Cantor Fitzgerald decreased their price target on Cidara Therapeutics from $15.00 to $8.00 and set a “reduce” rating for the company in a report on Wednesday. Wedbush downgraded Cidara Therapeutics from an “outperform” rating to a “neutral” rating and set a $2.00 price target for the company. in a report on Friday, May 17th. Zacks Investment Research raised Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $2.25 price target for the company in a report on Wednesday, May 22nd. Finally, ValuEngine downgraded Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $6.71.

Shares of NASDAQ CDTX traded down $0.05 during mid-day trading on Friday, hitting $1.54. 80,570 shares of the company were exchanged, compared to its average volume of 117,711. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.19 and a quick ratio of 3.19. Cidara Therapeutics has a 1-year low of $1.41 and a 1-year high of $5.75. The company has a market cap of $40.50 million, a PE ratio of -0.67 and a beta of 2.25.

A number of large investors have recently added to or reduced their stakes in CDTX. Two Sigma Investments LP raised its position in Cidara Therapeutics by 96.6% in the fourth quarter. Two Sigma Investments LP now owns 29,349 shares of the biotechnology company’s stock worth $69,000 after acquiring an additional 14,421 shares in the last quarter. Trellus Management Company LLC raised its position in Cidara Therapeutics by 105.8% in the fourth quarter. Trellus Management Company LLC now owns 94,143 shares of the biotechnology company’s stock worth $221,000 after acquiring an additional 48,391 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Cidara Therapeutics by 27.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 269,872 shares of the biotechnology company’s stock worth $634,000 after acquiring an additional 57,306 shares in the last quarter. BlackRock Inc. raised its position in Cidara Therapeutics by 1.9% in the fourth quarter. BlackRock Inc. now owns 291,512 shares of the biotechnology company’s stock worth $685,000 after acquiring an additional 5,563 shares in the last quarter. Finally, Raymond James & Associates raised its position in Cidara Therapeutics by 38.2% in the fourth quarter. Raymond James & Associates now owns 331,351 shares of the biotechnology company’s stock worth $779,000 after acquiring an additional 91,553 shares in the last quarter. Hedge funds and other institutional investors own 60.33% of the company’s stock.

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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Earnings History and Estimates for Cidara Therapeutics (NASDAQ:CDTX)

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