Equities Analysts Set Expectations for CDTX FY2024 Earnings

Cidara Therapeutics, Inc. (NASDAQ:CDTX) – Analysts at HC Wainwright raised their FY2024 earnings estimates for Cidara Therapeutics in a research report issued to clients and investors on Monday, November 11th. HC Wainwright analyst E. Arce now expects that the biotechnology company will post earnings per share of ($8.74) for the year, up from their prior forecast of ($12.06). HC Wainwright has a “Buy” rating and a $24.00 price target on the stock. The consensus estimate for Cidara Therapeutics’ current full-year earnings is ($8.74) 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 (EPS) for the quarter, beating the consensus estimate of ($3.94) by $1.89. The business had revenue of $0.30 million for the quarter. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%.

CDTX has been the topic of a number of other research reports. Cantor Fitzgerald reissued an “overweight” rating on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. StockNews.com lowered shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Needham & Company LLC restated a “buy” rating and set a $25.00 price target on shares of Cidara Therapeutics in a research note on Wednesday, August 14th. Finally, Guggenheim started coverage on shares of Cidara Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $33.00 price objective for the company. One analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Cidara Therapeutics Stock Down 0.8 %

CDTX stock opened at $14.37 on Thursday. The firm has a market cap of $101.31 million, a price-to-earnings ratio of -0.56 and a beta of 0.99. Cidara Therapeutics has a 12-month low of $10.00 and a 12-month high of $24.40. The company’s fifty day simple moving average is $11.79 and its 200 day simple moving average is $12.11.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. RA Capital Management L.P. purchased a new position in Cidara Therapeutics in the 3rd quarter worth $7,558,000. Tocqueville Asset Management L.P. boosted its stake in Cidara Therapeutics by 71.6% during the first quarter. Tocqueville Asset Management L.P. now owns 163,000 shares of the biotechnology company’s stock worth $150,000 after acquiring an additional 68,000 shares in the last quarter. Finally, Checkpoint Capital L.P. boosted its stake 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 in the last quarter. 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.