Analysts Issue Forecasts for CDTX FY2029 Earnings

Cidara Therapeutics, Inc. (NASDAQ:CDTX) – HC Wainwright issued their FY2029 earnings estimates for shares of Cidara Therapeutics in a research report issued to clients and investors on Monday, March 10th. HC Wainwright analyst E. Arce forecasts that the biotechnology company will post earnings per share of ($1.96) for the year. HC Wainwright currently has a “Buy” rating and a $35.00 target price on the stock. The consensus estimate for Cidara Therapeutics’ current full-year earnings is ($8.74) per share.

Cidara Therapeutics (NASDAQ:CDTX) last announced its quarterly earnings data on Thursday, March 6th. The biotechnology company reported ($5.38) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($5.28) by ($0.10). Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%.

A number of other brokerages have also issued reports on CDTX. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price target on shares of Cidara Therapeutics in a research note on Friday. WBB Securities upped their target price on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research report on Thursday, December 5th. Royal Bank of Canada started coverage on shares of Cidara Therapeutics in a report on Friday, December 13th. They issued an “outperform” rating and a $34.00 price target on the stock. Cantor Fitzgerald raised shares of Cidara Therapeutics to a “strong-buy” rating in a report on Wednesday, February 5th. Finally, StockNews.com cut Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, November 11th. One research analyst has rated the stock with a sell rating, four have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Cidara Therapeutics currently has an average rating of “Buy” and a consensus price target of $36.40.

Cidara Therapeutics Price Performance

Shares of CDTX stock opened at $22.39 on Tuesday. Cidara Therapeutics has a one year low of $10.00 and a one year high of $28.42. The company’s fifty day moving average price is $22.52 and its 200-day moving average price is $17.51. The company has a market capitalization of $157.78 million, a price-to-earnings ratio of -0.88 and a beta of 0.88.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CDTX. BVF Inc. IL raised its stake in shares of Cidara Therapeutics by 55.4% in the fourth quarter. BVF Inc. IL now owns 1,092,796 shares of the biotechnology company’s stock valued at $29,374,000 after acquiring an additional 389,731 shares during the period. RA Capital Management L.P. raised its position in Cidara Therapeutics by 55.4% in the 4th quarter. RA Capital Management L.P. now owns 1,092,796 shares of the biotechnology company’s stock worth $29,374,000 after purchasing an additional 389,716 shares during the period. TCG Crossover Management LLC bought a new stake in Cidara Therapeutics in the fourth quarter worth about $26,092,000. VR Adviser LLC bought a new position in shares of Cidara Therapeutics during the fourth quarter valued at approximately $20,583,000. Finally, Vivo Capital LLC purchased a new stake in shares of Cidara Therapeutics in the fourth quarter worth approximately $18,026,000. Hedge funds and other institutional investors own 35.82% of the company’s stock.

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.