Cidara Therapeutics (NASDAQ:CDTX) Posts Quarterly Earnings Results, Misses Expectations By $0.10 EPS

Cidara Therapeutics (NASDAQ:CDTX) issued its earnings results on Thursday. The biotechnology company reported ($5.38) earnings per share for the quarter, missing the consensus estimate of ($5.28) by ($0.10), Zacks reports. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%.

Cidara Therapeutics Stock Up 0.5 %

Shares of Cidara Therapeutics stock traded up $0.11 on Thursday, hitting $23.61. The company’s stock had a trading volume of 51,232 shares, compared to its average volume of 110,633. The company has a market capitalization of $166.38 million, a P/E ratio of -0.93 and a beta of 0.94. Cidara Therapeutics has a 52-week low of $10.00 and a 52-week high of $28.42. The firm has a fifty day moving average price of $22.51 and a 200-day moving average price of $17.33.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Royal Bank of Canada started coverage on Cidara Therapeutics in a research report on Friday, December 13th. They set an “outperform” rating and a $34.00 target price on the stock. Cantor Fitzgerald raised Cidara Therapeutics to a “strong-buy” rating in a report on Wednesday, February 5th. WBB Securities upped their price target on shares of Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research note on Thursday, December 5th. Guggenheim began coverage on shares of Cidara Therapeutics in a research note on Friday, November 8th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, StockNews.com downgraded shares of Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $32.20.

About Cidara Therapeutics

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.