HC Wainwright Has Positive Outlook of CDTX FY2024 Earnings

Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) - Investment analysts at HC Wainwright raised their FY2024 earnings estimates for Cidara Therapeutics in a research report issued to clients and investors on Monday, November 11th. HC Wainwright analyst E. Arce now expects that the biotechnology company will earn ($8.74) per share for the year, up from their prior estimate of ($12.06). HC Wainwright currently has a "Buy" rating and a $24.00 price objective on the stock. The consensus estimate for Cidara Therapeutics' current full-year earnings is ($12.06) per share. HC Wainwright also issued estimates for Cidara Therapeutics' Q4 2024 earnings at ($5.28) EPS, Q1 2025 earnings at ($5.13) EPS, Q2 2025 earnings at ($4.96) EPS, Q3 2025 earnings at ($4.27) EPS, Q4 2025 earnings at ($1.81) EPS, FY2025 earnings at ($14.39) EPS, FY2026 earnings at ($18.43) EPS, FY2027 earnings at ($19.29) EPS and FY2028 earnings at ($8.50) EPS.

Several other equities research analysts have also weighed in on the company. Needham & Company LLC restated a "buy" rating and issued a $25.00 target price on shares of Cidara Therapeutics in a report on Wednesday, August 14th. Cantor Fitzgerald restated an "overweight" rating on shares of Cidara Therapeutics in a report on Wednesday, August 14th. Guggenheim started coverage on Cidara Therapeutics in a research note on Friday, November 8th. They issued a "buy" rating and a $33.00 target price for the company. Finally, StockNews.com lowered Cidara Therapeutics from a "hold" rating to a "sell" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.50.

Cidara Therapeutics Stock Performance

Shares of CDTX stock traded up $0.42 during trading on Thursday, hitting $14.32. 17,119 shares of the company were exchanged, compared to its average volume of 38,314. The firm has a market capitalization of $100.91 million, a price-to-earnings ratio of -0.54 and a beta of 0.99. Cidara Therapeutics has a twelve month low of $10.00 and a twelve month high of $24.40. The business's 50-day simple moving average is $11.67 and its 200 day simple moving average is $12.08.

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) last released its earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share for the quarter, topping analysts' consensus estimates of ($3.94) by $1.89. The firm had revenue of $0.30 million during the quarter. Cidara Therapeutics had a negative return on equity of 69.64% and a negative net margin of 289.05%.

Hedge Funds Weigh In On Cidara Therapeutics

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. boosted its holdings in Cidara Therapeutics, Inc. (NASDAQ:CDTX - Free Report) by 71.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 163,000 shares of the biotechnology company's stock after acquiring an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent quarter. 35.82% of the stock is owned by hedge funds and other institutional investors.

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.