Brokers Issue Forecasts for Cidara Therapeutics, Inc.’s Q3 2017 Earnings (CDTX)
Cidara Therapeutics, Inc. (NASDAQ:CDTX) – Stock analysts at Wedbush lowered their Q3 2017 EPS estimates for Cidara Therapeutics in a research report issued on Monday. Wedbush analyst R. Driscoll now expects that the biotechnology company will earn ($1.01) per share for the quarter, down from their previous estimate of ($0.91). Wedbush currently has a “Outperform” rating and a $13.00 price objective on the stock. Wedbush also issued estimates for Cidara Therapeutics’ Q4 2017 earnings at ($0.76) EPS, Q1 2018 earnings at ($0.78) EPS, Q2 2018 earnings at ($0.79) EPS, Q3 2018 earnings at ($0.80) EPS, Q4 2018 earnings at ($0.59) EPS, FY2018 earnings at ($2.96) EPS, FY2019 earnings at ($2.41) EPS, FY2020 earnings at ($2.48) EPS and FY2021 earnings at ($2.59) EPS.
CDTX has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. Cantor Fitzgerald started coverage on shares of Cidara Therapeutics in a research report on Monday, June 26th. They issued an “overweight” rating and a $7.00 price target for the company. BTIG Research reiterated a “buy” rating and issued a $20.00 price target (up from $15.00) on shares of Cidara Therapeutics in a research report on Saturday, April 29th. ValuEngine downgraded shares of Cidara Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. Finally, Raymond James Financial, Inc. started coverage on shares of Cidara Therapeutics in a research report on Thursday, April 20th. They issued a “strong-buy” rating and a $14.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Cidara Therapeutics presently has an average rating of “Buy” and a consensus target price of $13.14.
Shares of Cidara Therapeutics (NASDAQ CDTX) opened at 5.75 on Wednesday. The company’s market capitalization is $96.95 million. Cidara Therapeutics has a 1-year low of $5.60 and a 1-year high of $12.95. The stock has a 50 day moving average price of $7.21 and a 200 day moving average price of $7.43.
Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings data on Wednesday, August 9th. The biotechnology company reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.91) by $0.08.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Trexquant Investment LP purchased a new position in shares of Cidara Therapeutics during the second quarter valued at approximately $110,000. Citadel Advisors LLC purchased a new position in shares of Cidara Therapeutics during the second quarter valued at approximately $129,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Cidara Therapeutics during the second quarter valued at approximately $131,000. Teachers Advisors LLC increased its position in shares of Cidara Therapeutics by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 16,524 shares of the biotechnology company’s stock valued at $172,000 after buying an additional 2,458 shares in the last quarter. Finally, Russell Investments Group Ltd. purchased a new position in shares of Cidara Therapeutics during the fourth quarter valued at approximately $173,000. Institutional investors and hedge funds own 68.22% of the company’s stock.
In other news, insider Taylor Sandison acquired 20,000 shares of the stock in a transaction on Wednesday, June 7th. The stock was acquired at an average cost of $5.90 per share, for a total transaction of $118,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jeffrey Stein acquired 15,000 shares of the stock in a transaction on Monday, June 5th. The shares were purchased at an average price of $5.95 per share, with a total value of $89,250.00. The disclosure for this purchase can be found here. 18.90% of the stock is owned by insiders.
Cidara Therapeutics Company Profile
Cidara Therapeutics, Inc, formerly K2 Therapeutics, Inc, is a clinical-stage biotechnology company. The Company is engaged in the discovery, development and commercialization of anti-infectives. It is developing a pipeline of product and development candidates with a focus on serious fungal infections.
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