Cidara Therapeutics (NASDAQ:CDTX) announced its earnings results on Thursday. The biotechnology company reported ($0.49) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.55) by $0.06, Bloomberg Earnings reports.
Shares of CDTX stock remained flat at $$1.30 during trading hours on Friday. The stock had a trading volume of 104,471 shares, compared to its average volume of 176,940. Cidara Therapeutics has a 1-year low of $1.23 and a 1-year high of $4.95. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.19 and a quick ratio of 3.19. The firm has a 50-day simple moving average of $1.58.
CDTX has been the subject of a number of recent research reports. Oppenheimer initiated coverage on shares of Cidara Therapeutics in a report on Wednesday, June 5th. They issued an “outperform” rating and a $6.00 target price for the company. ValuEngine upgraded Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research lowered Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Cantor Fitzgerald dropped their price target on Cidara Therapeutics from $15.00 to $8.00 and set a “reduce” rating on the stock in a research note on Wednesday, June 12th. Finally, Wedbush lowered Cidara Therapeutics from an “outperform” rating to a “neutral” rating and set a $2.00 price target on the stock. in a research note on Friday, May 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. Cidara Therapeutics currently has an average rating of “Hold” and an average target price of $4.56.
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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