Cidara Therapeutics (NASDAQ:CDTX) Announces Quarterly Earnings Results

Cidara Therapeutics (NASDAQ:CDTX) posted its earnings results on Thursday. The biotechnology company reported $0.08 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.34, Fidelity Earnings reports. The firm had revenue of $19.10 million during the quarter, compared to analyst estimates of $30.00 million.

Shares of CDTX traded up $0.09 during trading hours on Friday, reaching $2.38. 191,200 shares of the company traded hands, compared to its average volume of 219,611. The stock has a market capitalization of $61.03 million, a PE ratio of -1.03 and a beta of 2.12. The stock has a fifty day simple moving average of $1.97 and a 200 day simple moving average of $1.81. The company has a quick ratio of 2.57, a current ratio of 2.57 and a debt-to-equity ratio of 0.04. Cidara Therapeutics has a fifty-two week low of $1.22 and a fifty-two week high of $4.20.

Several research firms have weighed in on CDTX. ValuEngine raised Cidara Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Needham & Company LLC set a $10.00 price objective on Cidara Therapeutics and gave the company a “buy” rating in a research note on Monday, August 12th. BTIG Research reaffirmed a “buy” rating and set a $7.00 price objective on shares of Cidara Therapeutics in a research note on Wednesday, September 4th. Wedbush raised Cidara Therapeutics from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $2.00 to $4.00 in a research note on Tuesday, September 3rd. Finally, Zacks Investment Research lowered Cidara Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. Cidara Therapeutics currently has an average rating of “Hold” and an average target price of $6.08.

In related news, CEO Jeffrey Stein acquired 52,500 shares of Cidara Therapeutics stock in a transaction that occurred on Tuesday, September 24th. The stock was acquired at an average price of $1.91 per share, for a total transaction of $100,275.00. Following the transaction, the chief executive officer now directly owns 282,320 shares of the company’s stock, valued at approximately $539,231.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO James E. Levine acquired 30,000 shares of Cidara Therapeutics stock in a transaction that occurred on Tuesday, September 24th. The shares were bought at an average price of $1.91 per share, with a total value of $57,300.00. Following the transaction, the chief financial officer now directly owns 205,000 shares in the company, valued at $391,550. The disclosure for this purchase can be found here. In the last quarter, insiders sold 11,580 shares of company stock valued at $22,479. Insiders own 15.28% of the company’s stock.

Cidara Therapeutics Company Profile

Cidara Therapeutics, Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of anti-infectives for the treatment of diseases. Its lead product candidate is rezafungin acetate, a molecule in the echinocandin class of antifungals for the treatment and prevention of serious invasive fungal infections, including candidemia and invasive candidiasis, fungal infections associated with high mortality rates.

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Earnings History for Cidara Therapeutics (NASDAQ:CDTX)

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