Q1 2017 Earnings Forecast for Cidara Therapeutics Inc (CDTX) Issued By Leerink Swann
Cidara Therapeutics Inc (NASDAQ:CDTX) – Research analysts at Leerink Swann boosted their Q1 2017 earnings estimates for Cidara Therapeutics in a research report issued to clients and investors on Wednesday. Leerink Swann analyst P. Matteis now anticipates that the brokerage will post earnings per share of ($0.93) for the quarter, up from their prior forecast of ($1.02). Leerink Swann has a “Outperform” rating and a $17.00 price objective on the stock. Leerink Swann also issued estimates for Cidara Therapeutics’ Q2 2017 earnings at ($0.79) EPS, Q3 2017 earnings at ($0.86) EPS, Q4 2017 earnings at ($0.94) EPS, FY2017 earnings at ($3.52) EPS and FY2018 earnings at ($2.93) EPS.
A number of other equities analysts have also recently weighed in on the company. Cantor Fitzgerald set a $20.00 price target on Cidara Therapeutics and gave the stock a “buy” rating in a report on Wednesday, January 4th. Zacks Investment Research cut Cidara Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, January 6th. WBB Securities upgraded Cidara Therapeutics from a “sell” rating to a “hold” rating and set a $7.25 price target for the company in a report on Wednesday, February 22nd. HC Wainwright initiated coverage on Cidara Therapeutics in a report on Monday, December 19th. They set a “buy” rating and a $25.00 price target for the company. Finally, Wedbush reiterated an “outperform” rating and set a $22.00 price target (up from $13.00) on shares of Cidara Therapeutics in a report on Tuesday, February 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company’s stock. Cidara Therapeutics presently has a consensus rating of “Buy” and an average price target of $13.28.
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Cidara Therapeutics (NASDAQ:CDTX) opened at 7.10 on Monday. Cidara Therapeutics has a 52-week low of $6.65 and a 52-week high of $15.91. The firm’s 50-day moving average price is $8.64 and its 200 day moving average price is $10.08. The firm’s market cap is $118.38 million.
Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Wednesday, March 15th. The biotechnology company reported ($0.88) EPS for the quarter, missing the consensus estimate of ($0.79) by $0.09. During the same period in the prior year, the business earned ($0.72) earnings per share.
A number of institutional investors have recently made changes to their positions in CDTX. Perceptive Advisors LLC purchased a new position in shares of Cidara Therapeutics during the fourth quarter worth approximately $8,043,000. Alyeska Investment Group L.P. purchased a new position in shares of Cidara Therapeutics during the fourth quarter worth approximately $1,040,000. Broadfin Capital LLC boosted its position in shares of Cidara Therapeutics by 237.3% in the fourth quarter. Broadfin Capital LLC now owns 562,875 shares of the biotechnology company’s stock worth $5,854,000 after buying an additional 396,000 shares during the period. Renaissance Technologies LLC boosted its position in shares of 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 period. Finally, FMR LLC boosted its position in shares of Cidara Therapeutics by 5.4% in the fourth quarter. FMR LLC now owns 1,471,553 shares of the biotechnology company’s stock worth $15,304,000 after buying an additional 75,000 shares during the period. Institutional investors own 47.34% 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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