FY2029 Earnings Forecast for CDTX Issued By HC Wainwright

Cidara Therapeutics, Inc. (NASDAQ:CDTX) – Analysts at HC Wainwright issued their FY2029 earnings estimates for shares of Cidara Therapeutics in a research note issued 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 issued its earnings results 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%.

Several other analysts have also weighed in on CDTX. Needham & Company LLC reissued a “buy” rating and issued a $35.00 target price on shares of Cidara Therapeutics in a report on Friday, March 7th. Royal Bank of Canada started coverage on shares of Cidara Therapeutics in a research report on Friday, December 13th. They issued an “outperform” rating and a $34.00 price objective on the stock. WBB Securities raised their target price on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the company a “strong-buy” rating in a report on Thursday, December 5th. Finally, Cantor Fitzgerald raised shares of Cidara Therapeutics to a “strong-buy” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $36.40.

Cidara Therapeutics Price Performance

CDTX opened at $21.00 on Tuesday. The stock’s 50 day simple moving average is $22.35 and its 200 day simple moving average is $17.64. The stock has a market cap of $147.99 million, a P/E ratio of -0.82 and a beta of 0.88. Cidara Therapeutics has a 1-year low of $10.00 and a 1-year high of $28.42.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CDTX. Geode Capital Management LLC boosted its stake in shares of Cidara Therapeutics by 22.7% during the 3rd quarter. Geode Capital Management LLC now owns 52,898 shares of the biotechnology company’s stock worth $569,000 after purchasing an additional 9,771 shares during the last quarter. RA Capital Management L.P. purchased a new position in shares of Cidara Therapeutics during the third quarter valued at approximately $7,558,000. Checkpoint Capital L.P. boosted its position in Cidara Therapeutics by 25.5% during the third quarter. Checkpoint Capital L.P. now owns 182,426 shares of the biotechnology company’s stock worth $1,961,000 after acquiring an additional 37,009 shares during the last quarter. Stempoint Capital LP purchased a new stake in Cidara Therapeutics in the 4th quarter worth approximately $1,281,000. Finally, Schonfeld Strategic Advisors LLC raised its holdings in Cidara Therapeutics by 154.1% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 49,557 shares of the biotechnology company’s stock valued at $1,332,000 after acquiring an additional 30,057 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company’s stock.

About Cidara Therapeutics

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.