Q1 2024 Earnings Estimate for Cidara Therapeutics, Inc. Issued By HC Wainwright (NASDAQ:CDTX)

Cidara Therapeutics, Inc. (NASDAQ:CDTX) – Research analysts at HC Wainwright reduced their Q1 2024 earnings per share estimates for shares of Cidara Therapeutics in a report released on Thursday, April 25th. HC Wainwright analyst E. Arce now anticipates that the biotechnology company will post earnings per share of ($1.50) for the quarter, down from their prior 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.

CDTX has been the subject of several other research reports. Needham & Company LLC upped their price target on shares of Cidara Therapeutics from $3.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. WBB Securities reaffirmed a “strong-buy” rating and set a $40.00 target price on shares of Cidara Therapeutics in a 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 issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $71.25.

Cidara Therapeutics Stock Performance

CDTX stock opened at $12.33 on Monday. The business’s 50-day moving average is $15.32 and its two-hundred day moving average is $15.22. The company has a market cap of $56.20 million, a price-to-earnings ratio of -2.57 and a beta of 0.98. Cidara Therapeutics has a fifty-two week low of $10.00 and a fifty-two week high of $29.60.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Cidara Therapeutics stock. Raymond James Financial Services Advisors Inc. grew its position in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 25.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 79,119 shares of the biotechnology company’s stock after purchasing an additional 15,912 shares during the quarter. Raymond James Financial Services Advisors Inc. owned approximately 0.09% of Cidara Therapeutics worth $75,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 35.82% of the stock is currently owned by institutional investors.

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.