Brokerages expect Cidara Therapeutics Inc (NASDAQ:CDTX) to report ($0.54) earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Cidara Therapeutics’ earnings. The highest EPS estimate is ($0.53) and the lowest is ($0.54). Cidara Therapeutics reported earnings of ($0.69) per share during the same quarter last year, which would indicate a positive year over year growth rate of 21.7%. The company is expected to report its next quarterly earnings report on Tuesday, February 26th.
On average, analysts expect that Cidara Therapeutics will report full year earnings of ($2.86) per share for the current financial year, with EPS estimates ranging from ($3.16) to ($2.46). For the next year, analysts expect that the business will post earnings of ($1.92) per share, with EPS estimates ranging from ($2.10) to ($1.62). Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Cidara Therapeutics.
Cidara Therapeutics (NASDAQ:CDTX) last issued its quarterly earnings data on Thursday, November 8th. The biotechnology company reported ($0.49) EPS for the quarter, beating the consensus estimate of ($0.60) by $0.11.
Several brokerages have commented on CDTX. Zacks Investment Research lowered Cidara Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th. ValuEngine raised Cidara Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $10.06.
Shares of CDTX opened at $2.90 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 6.78 and a current ratio of 6.78. Cidara Therapeutics has a 12 month low of $1.94 and a 12 month high of $8.55.
Several large investors have recently modified their holdings of CDTX. JPMorgan Chase & Co. raised its position in Cidara Therapeutics by 88.5% in the third quarter. JPMorgan Chase & Co. now owns 149,050 shares of the biotechnology company’s stock valued at $656,000 after purchasing an additional 69,998 shares during the period. Bridgeway Capital Management Inc. increased its stake in Cidara Therapeutics by 90.4% in the third quarter. Bridgeway Capital Management Inc. now owns 179,000 shares of the biotechnology company’s stock valued at $788,000 after acquiring an additional 85,000 shares during the period. Raymond James & Associates increased its stake in Cidara Therapeutics by 104.1% in the second quarter. Raymond James & Associates now owns 195,878 shares of the biotechnology company’s stock valued at $1,019,000 after acquiring an additional 99,927 shares during the period. Alethea Capital Management LLC increased its stake in Cidara Therapeutics by 10.3% in the fourth quarter. Alethea Capital Management LLC now owns 482,357 shares of the biotechnology company’s stock valued at $1,134,000 after acquiring an additional 45,000 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Cidara Therapeutics by 8.6% in the third quarter. Renaissance Technologies LLC now owns 309,700 shares of the biotechnology company’s stock valued at $1,363,000 after acquiring an additional 24,400 shares during the period. 65.20% of the stock is currently owned by hedge funds and other institutional investors.
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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