What is HC Wainwright’s Estimate for CDTX FY2024 Earnings?

Cidara Therapeutics, Inc. (NASDAQ:CDTX) – Research analysts at HC Wainwright boosted their FY2024 EPS estimates for Cidara Therapeutics in a research note issued to investors on Monday, November 11th. HC Wainwright analyst E. Arce now expects that the biotechnology company will post earnings of ($8.74) per share for the year, up from their prior estimate of ($12.06). HC Wainwright currently has a “Buy” rating and a $24.00 target price on the stock. The consensus estimate for Cidara Therapeutics’ current full-year earnings is ($12.06) per share. HC Wainwright also issued estimates for Cidara Therapeutics’ Q4 2024 earnings at ($5.28) EPS, Q1 2025 earnings at ($5.13) EPS, Q2 2025 earnings at ($4.96) EPS, Q3 2025 earnings at ($4.27) EPS, Q4 2025 earnings at ($1.81) EPS, FY2025 earnings at ($14.39) EPS, FY2026 earnings at ($18.43) EPS, FY2027 earnings at ($19.29) EPS and FY2028 earnings at ($8.50) EPS.

Cidara Therapeutics (NASDAQ:CDTX) last released its earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($3.94) by $1.89. The firm had revenue of $0.30 million during the quarter. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%.

A number of other analysts have also issued reports on the company. Guggenheim initiated coverage on Cidara Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $33.00 target price on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. StockNews.com lowered shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $30.50.

Cidara Therapeutics Stock Performance

Cidara Therapeutics stock opened at $14.48 on Thursday. Cidara Therapeutics has a 52 week low of $10.00 and a 52 week high of $24.40. The firm has a market capitalization of $102.04 million, a PE ratio of -0.57 and a beta of 0.99. The business’s 50-day simple moving average is $11.73 and its 200-day simple moving average is $12.10.

Institutional Investors Weigh In On Cidara Therapeutics

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. increased its holdings in shares of Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 163,000 shares of the biotechnology company’s stock after acquiring an additional 68,000 shares during the period. Tocqueville Asset Management L.P. owned about 3.57% of Cidara Therapeutics worth $150,000 at the end of the most recent reporting period. 35.82% of the stock is owned by institutional investors.

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.