Cidara Therapeutics Inc (CDTX) Releases Earnings Results, Misses Estimates By $0.08 EPS
Cidara Therapeutics Inc (NASDAQ:CDTX) released its quarterly earnings results on Wednesday. The biotechnology company reported ($0.99) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.91) by $0.08, Briefing.com reports.
Shares of Cidara Therapeutics (NASDAQ:CDTX) traded down 6.47% on Wednesday, reaching $6.50. 166,100 shares of the company traded hands. Cidara Therapeutics has a 52-week low of $5.65 and a 52-week high of $12.95. The stock has a 50 day moving average of $7.36 and a 200 day moving average of $7.64. The stock’s market cap is $109.24 million.
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CDTX has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Cidara Therapeutics from a “hold” rating to a “buy” rating and set a $7.75 price target on the stock in a report on Monday, June 19th. Cantor Fitzgerald initiated coverage on shares of Cidara Therapeutics in a report on Monday, June 26th. They set an “overweight” rating and a $7.00 price target on the stock. HC Wainwright restated a “buy” rating and set a $14.00 price target (down previously from $18.00) on shares of Cidara Therapeutics in a report on Monday, April 17th. Raymond James Financial, Inc. initiated coverage on shares of Cidara Therapeutics in a report on Thursday, April 20th. They set a “strong-buy” rating and a $14.00 price target on the stock. Finally, BTIG Research restated a “buy” rating and set a $20.00 price target (up previously from $15.00) on shares of Cidara Therapeutics in a report on Saturday, April 29th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.41.
In other news, CEO Jeffrey Stein purchased 15,000 shares of the business’s stock in a transaction on Monday, June 5th. The stock was purchased at an average price of $5.95 per share, for a total transaction of $89,250.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Taylor Sandison purchased 20,000 shares of the business’s stock in a transaction on Wednesday, June 7th. The stock was purchased at an average price of $5.90 per share, with a total value of $118,000.00. The disclosure for this purchase can be found here. Company insiders own 18.90% of the company’s stock.
About Cidara Therapeutics
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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