Brokers Issue Forecasts for Cidara Therapeutics, Inc.’s Q3 2017 Earnings (CDTX)
Cidara Therapeutics, Inc. (NASDAQ:CDTX) – Wedbush reduced their Q3 2017 earnings per share (EPS) estimates for shares of Cidara Therapeutics in a note issued to investors on Monday. Wedbush analyst R. Driscoll now anticipates that the biotechnology company will post earnings of ($1.01) per share for the quarter, down from their previous forecast of ($0.91). Wedbush currently has a “Outperform” rating and a $13.00 target price on the stock. Wedbush also issued estimates for Cidara Therapeutics’ Q4 2017 earnings at ($0.76) EPS, Q1 2018 earnings at ($0.78) EPS, Q2 2018 earnings at ($0.79) EPS, Q3 2018 earnings at ($0.80) EPS, Q4 2018 earnings at ($0.59) EPS, FY2018 earnings at ($2.96) EPS, FY2019 earnings at ($2.41) EPS, FY2020 earnings at ($2.48) EPS and FY2021 earnings at ($2.59) EPS.
Cidara Therapeutics (NASDAQ:CDTX) last released its earnings results on Wednesday, August 9th. The biotechnology company reported ($0.99) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.91) by $0.08. TRADEMARK VIOLATION NOTICE: This news story was originally published by American Banking News and is the property of of American Banking News. If you are reading this news story on another domain, it was stolen and republished in violation of US & international trademark and copyright laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/08/16/brokers-issue-forecasts-for-cidara-therapeutics-inc-s-q3-2017-earnings-cdtx.html.
A number of other research firms also recently issued reports on CDTX. WBB Securities raised shares of Cidara Therapeutics from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Zacks Investment Research downgraded shares of Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Cantor Fitzgerald set a $11.00 price target on shares of Cidara Therapeutics and gave the company a “buy” rating in a research note on Monday, June 5th. ValuEngine raised shares of Cidara Therapeutics from a “strong sell” rating to a “sell” rating in a research note on Friday, July 14th. Finally, Raymond James Financial, Inc. began coverage on shares of Cidara Therapeutics in a research report on Thursday, April 20th. They set a “strong-buy” rating and a $14.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Cidara Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $13.14.
Cidara Therapeutics (NASDAQ:CDTX) opened at 5.75 on Wednesday. Cidara Therapeutics has a 12-month low of $5.60 and a 12-month high of $12.95. The company’s 50 day moving average is $7.21 and its 200 day moving average is $7.43. The company’s market cap is $96.95 million.
In related news, CEO Jeffrey Stein purchased 15,000 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were purchased at an average cost of $5.95 per share, for a total transaction of $89,250.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Taylor Sandison purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The stock was bought at an average price of $5.90 per share, for a total transaction of $118,000.00. The disclosure for this purchase can be found here. Corporate insiders own 18.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC boosted its position 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 worth $305,000 after buying an additional 1,840 shares during the last quarter. Teachers Advisors LLC boosted its position in Cidara Therapeutics by 17.5% in the fourth quarter. Teachers Advisors LLC now owns 16,524 shares of the biotechnology company’s stock worth $172,000 after buying an additional 2,458 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Cidara Therapeutics by 6.7% in the first quarter. Bank of New York Mellon Corp now owns 42,350 shares of the biotechnology company’s stock worth $330,000 after buying an additional 2,647 shares during the last quarter. Renaissance Technologies LLC boosted its position in Cidara Therapeutics by 14.7% in the fourth quarter. Renaissance Technologies LLC now owns 49,900 shares of the biotechnology company’s stock worth $519,000 after buying an additional 6,400 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Cidara Therapeutics during the second quarter worth approximately $110,000. Hedge funds and other institutional investors own 68.22% of the company’s stock.
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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