Leerink Swann Research Analysts Lift Earnings Estimates for Cidara Therapeutics, Inc. (CDTX)
Cidara Therapeutics, Inc. (NASDAQ:CDTX) – Analysts at Leerink Swann raised their FY2017 earnings estimates for Cidara Therapeutics in a research report issued to clients and investors on Thursday. Leerink Swann analyst P. Matteis now expects that the biotechnology company will post earnings per share of ($3.14) for the year, up from their prior forecast of ($3.80). Leerink Swann also issued estimates for Cidara Therapeutics’ Q4 2017 earnings at ($0.63) EPS, Q1 2018 earnings at ($0.66) EPS, Q2 2018 earnings at ($0.50) EPS, Q4 2018 earnings at ($0.87) EPS, FY2018 earnings at ($2.75) EPS and FY2019 earnings at ($3.17) EPS.
Cidara Therapeutics (NASDAQ:CDTX) last posted its earnings results on Wednesday, November 8th. The biotechnology company reported ($0.73) EPS for the quarter, topping the consensus estimate of ($0.94) by $0.21.
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Several other equities research analysts also recently commented on CDTX. Cantor Fitzgerald set a $15.00 target price on shares of Cidara Therapeutics and gave the stock a “buy” rating in a research report on Thursday, August 10th. WBB Securities raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research downgraded shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. ValuEngine downgraded shares of Cidara Therapeutics from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, HC Wainwright boosted their target price on shares of Cidara Therapeutics from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Thursday, November 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $13.39.
Shares of Cidara Therapeutics (NASDAQ:CDTX) opened at $7.50 on Monday. The company has a current ratio of 7.69, a quick ratio of 7.69 and a debt-to-equity ratio of 0.16. Cidara Therapeutics has a 52-week low of $5.60 and a 52-week high of $11.75.
In other news, CEO Jeffrey Stein acquired 7,350 shares of Cidara Therapeutics stock in a transaction on Tuesday, September 12th. The stock was acquired at an average cost of $6.79 per share, with a total value of $49,906.50. Following the transaction, the chief executive officer now owns 51,851 shares of the company’s stock, valued at approximately $352,068.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 18.90% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Broadfin Capital LLC grew its position in Cidara Therapeutics by 45.0% in the 2nd quarter. Broadfin Capital LLC now owns 816,275 shares of the biotechnology company’s stock worth $6,122,000 after purchasing an additional 253,400 shares in the last quarter. Susquehanna International Group LLP bought a new stake in Cidara Therapeutics in the 2nd quarter worth about $350,000. Trellus Management Company LLC bought a new stake in Cidara Therapeutics in the 2nd quarter worth about $338,000. BB Biotech AG boosted its stake in Cidara Therapeutics by 5.6% in the second quarter. BB Biotech AG now owns 1,102,578 shares of the biotechnology company’s stock valued at $8,269,000 after acquiring an additional 58,754 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its stake in Cidara Therapeutics by 4.9% in the first quarter. TIAA CREF Investment Management LLC now owns 39,065 shares of the biotechnology company’s stock valued at $305,000 after acquiring an additional 1,840 shares during the last quarter. 66.11% of the stock is owned by institutional investors and hedge funds.
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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