Cidara Therapeutics Inc (CDTX) Expected to Announce Earnings of -$0.36 Per Share

Brokerages forecast that Cidara Therapeutics Inc (NASDAQ:CDTX) will report ($0.36) earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Cidara Therapeutics’ earnings. Cidara Therapeutics reported earnings per share of ($0.69) during the same quarter last year, which would indicate a positive year-over-year growth rate of 47.8%. The company is expected to issue its next quarterly earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Cidara Therapeutics will report full-year earnings of ($1.69) per share for the current year. For the next year, analysts anticipate that the business will report earnings of ($1.12) per share. Zacks’ earnings per share averages are an average based on a survey of analysts that that provide coverage for Cidara Therapeutics.

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

Several analysts have commented on the company. Wedbush downgraded Cidara Therapeutics from an “outperform” rating to a “neutral” rating and set a $2.00 target price on the stock. in a research note on Friday, May 17th. Zacks Investment Research downgraded Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Monday, February 11th. ValuEngine downgraded Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Finally, Cantor Fitzgerald reiterated a “buy” rating and set a $15.00 target price on shares of Cidara Therapeutics in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $8.40.

Hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates raised its holdings in Cidara Therapeutics by 38.2% in the 4th quarter. Raymond James & Associates now owns 331,351 shares of the biotechnology company’s stock worth $779,000 after purchasing an additional 91,553 shares during the period. Vanguard Group Inc raised its holdings in Cidara Therapeutics by 15.0% in the 3rd quarter. Vanguard Group Inc now owns 660,485 shares of the biotechnology company’s stock worth $2,906,000 after purchasing an additional 85,979 shares during the period. Vanguard Group Inc. raised its holdings in Cidara Therapeutics by 15.0% in the 3rd quarter. Vanguard Group Inc. now owns 660,485 shares of the biotechnology company’s stock worth $2,906,000 after purchasing an additional 85,979 shares during the period. Alethea Capital Management LLC raised its holdings in Cidara Therapeutics by 17.0% in the 1st quarter. Alethea Capital Management LLC now owns 564,313 shares of the biotechnology company’s stock worth $1,495,000 after purchasing an additional 81,956 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Cidara Therapeutics by 25.3% in the 1st quarter. Renaissance Technologies LLC now owns 396,732 shares of the biotechnology company’s stock worth $1,051,000 after purchasing an additional 80,232 shares during the period. Hedge funds and other institutional investors own 65.77% of the company’s stock.

Shares of Cidara Therapeutics stock traded down $0.03 during midday trading on Friday, hitting $1.99. The company had a trading volume of 3,737 shares, compared to its average volume of 98,120. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $52.22 million, a P/E ratio of -0.86 and a beta of 2.13. Cidara Therapeutics has a 52-week low of $1.85 and a 52-week high of $6.35.

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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