-$0.51 Earnings Per Share Expected for Cidara Therapeutics Inc (NASDAQ:CDTX) This Quarter

Brokerages forecast that Cidara Therapeutics Inc (NASDAQ:CDTX) will announce earnings of ($0.51) per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have provided estimates for Cidara Therapeutics’ earnings. The highest EPS estimate is ($0.36) and the lowest is ($0.65). 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 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 ($2.22) per share for the current year, with EPS estimates ranging from ($2.75) to ($1.69). For the next year, analysts anticipate that the business will report earnings of ($2.36) per share, with EPS estimates ranging from ($3.59) to ($1.12). Zacks’ earnings per share averages are an average based on a survey of research analysts that cover 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).

CDTX has been the topic of a number of analyst reports. Oppenheimer initiated coverage on shares of Cidara Therapeutics in a research report on Wednesday, June 5th. They issued an “outperform” rating and a $6.00 price objective on the stock. Cantor Fitzgerald decreased their price objective on shares of Cidara Therapeutics from $15.00 to $8.00 and set a “reduce” rating on the stock in a research report on Wednesday, June 12th. ValuEngine cut shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Wedbush cut shares of Cidara Therapeutics from an “outperform” rating to a “neutral” rating and set a $2.00 price objective on the stock. in a research report on Friday, May 17th. Finally, Zacks Investment Research cut shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 17th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Cidara Therapeutics currently has an average rating of “Hold” and a consensus price target of $6.45.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Cidara Therapeutics by 1.9% during the fourth quarter. BlackRock Inc. now owns 291,512 shares of the biotechnology company’s stock valued at $685,000 after buying an additional 5,563 shares during the period. Two Sigma Investments LP increased its position in shares of Cidara Therapeutics by 96.6% during the fourth quarter. Two Sigma Investments LP now owns 29,349 shares of the biotechnology company’s stock valued at $69,000 after buying an additional 14,421 shares during the period. Raymond James Financial Services Advisors Inc. increased its position in shares of Cidara Therapeutics by 27.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 269,872 shares of the biotechnology company’s stock valued at $634,000 after buying an additional 57,306 shares during the period. Alethea Capital Management LLC increased its position in shares of Cidara Therapeutics by 17.0% during the first quarter. Alethea Capital Management LLC now owns 564,313 shares of the biotechnology company’s stock valued at $1,495,000 after buying an additional 81,956 shares during the period. Finally, Raymond James & Associates increased its position in shares of Cidara Therapeutics by 38.2% during the fourth quarter. Raymond James & Associates now owns 331,351 shares of the biotechnology company’s stock valued at $779,000 after buying an additional 91,553 shares during the period. Institutional investors own 60.32% of the company’s stock.

Shares of CDTX stock traded down $0.14 during mid-day trading on Wednesday, reaching $1.41. The stock had a trading volume of 2,305 shares, compared to its average volume of 44,110. The company has a 50-day moving average price of $1.63. Cidara Therapeutics has a 52-week low of $1.41 and a 52-week high of $4.95. The company has a market capitalization of $42.63 million, a price-to-earnings ratio of -0.61 and a beta of 2.19. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.04.

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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