Cidara Therapeutics, Inc. to Post Q1 2024 Earnings of ($1.50) Per Share, HC Wainwright Forecasts (NASDAQ:CDTX)

Cidara Therapeutics, Inc. (NASDAQ:CDTX) – Analysts at HC Wainwright decreased their Q1 2024 earnings per share estimates for Cidara Therapeutics in a research report issued on Thursday, April 25th. HC Wainwright analyst E. Arce now expects that the biotechnology company will post earnings of ($1.50) per share for the quarter, down from their previous forecast of ($1.40). HC Wainwright currently has a “Buy” rating and a $120.00 target price on the stock. The consensus estimate for Cidara Therapeutics’ current full-year earnings is ($13.07) per share. HC Wainwright also issued estimates for Cidara Therapeutics’ Q2 2024 earnings at ($3.94) EPS, Q3 2024 earnings at ($3.79) EPS, Q4 2024 earnings at ($3.29) EPS, FY2024 earnings at ($13.07) EPS and FY2028 earnings at $22.00 EPS.

A number of other research firms also recently commented on CDTX. Needham & Company LLC boosted their target price on Cidara Therapeutics from $3.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. WBB Securities reiterated a “strong-buy” rating and issued a $40.00 target price on shares of Cidara Therapeutics in a research report on Thursday, April 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research report on Tuesday, April 23rd. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Cidara Therapeutics presently has an average rating of “Buy” and an average price target of $71.25.

Cidara Therapeutics Stock Down 2.8 %

Shares of Cidara Therapeutics stock opened at $11.98 on Monday. The company has a market capitalization of $54.63 million, a price-to-earnings ratio of -2.50 and a beta of 0.98. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $29.60. The stock’s 50-day simple moving average is $15.28 and its 200-day simple moving average is $15.18.

Institutional Investors Weigh In On Cidara Therapeutics

A hedge fund recently bought a new stake in Cidara Therapeutics stock. Pale Fire Capital SE purchased a new position in Cidara Therapeutics, Inc. (NASDAQ:CDTX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 54,356 shares of the biotechnology company’s stock, valued at approximately $51,000. Pale Fire Capital SE owned 0.06% of Cidara Therapeutics as of its most recent filing with the Securities and Exchange Commission (SEC). 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 the discovery, development, and commercialization of long-acting anti-infectives for the treatment and prevention of infectious diseases and oncology in the United States. The company's lead product candidate is 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.