FY2029 Earnings Estimate for CDTX Issued By HC Wainwright

Cidara Therapeutics, Inc. (NASDAQ:CDTX) – Research analysts at HC Wainwright issued their FY2029 earnings estimates for shares of Cidara Therapeutics in a research note issued to investors on Monday, March 10th. HC Wainwright analyst E. Arce expects that the biotechnology company will post earnings per share of ($1.96) for the year. HC Wainwright has a “Buy” rating and a $35.00 price target on the stock. The consensus estimate for Cidara Therapeutics’ current full-year earnings is ($8.74) per share.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings results on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.28) by ($0.10). Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%.

Other research analysts have also recently issued reports about the stock. Needham & Company LLC reiterated a “buy” rating and set a $35.00 target price on shares of Cidara Therapeutics in a report on Friday. Cantor Fitzgerald raised shares of Cidara Therapeutics to a “strong-buy” rating in a research note on Wednesday, February 5th. Royal Bank of Canada started coverage on Cidara Therapeutics in a research report on Friday, December 13th. They set an “outperform” rating and a $34.00 target price on the stock. StockNews.com lowered Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, November 11th. Finally, WBB Securities raised their price objective on Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a research report on Thursday, December 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Cidara Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $36.40.

Cidara Therapeutics Stock Down 5.4 %

Shares of NASDAQ CDTX opened at $22.39 on Tuesday. Cidara Therapeutics has a twelve month low of $10.00 and a twelve month high of $28.42. The business has a fifty day simple moving average of $22.52 and a two-hundred day simple moving average of $17.51. The firm has a market cap of $157.78 million, a PE ratio of -0.88 and a beta of 0.88.

Hedge Funds Weigh In On Cidara Therapeutics

Several hedge funds have recently modified their holdings of the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Cidara Therapeutics during the 4th quarter worth approximately $56,000. Point72 Asset Management L.P. purchased a new stake in shares of Cidara Therapeutics during the fourth quarter valued at $165,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of Cidara Therapeutics during the fourth quarter valued at $339,000. Jane Street Group LLC acquired a new position in shares of Cidara Therapeutics in the 4th quarter valued at $342,000. Finally, Boothbay Fund Management LLC purchased a new position in Cidara Therapeutics in the 4th quarter worth $419,000. Institutional investors and hedge funds own 35.82% of the company’s stock.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biotechnology company, focuses on developing targeted therapies for patients facing cancers and other serious diseases. The company's product includes rezafungin acetate, a novel molecule in the echinocandin class of antifungals for the treatment and prevention of invasive fungal infections, including candidemia and invasive candidiasis, which are fungal infections associated with high mortality rates.