Cidara Therapeutics, Inc. (CDTX) Announces Earnings Results, Beats Expectations By $0.21 EPS
Cidara Therapeutics, Inc. (NASDAQ:CDTX) released its quarterly earnings results on Wednesday. The biotechnology company reported ($0.73) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.94) by $0.21, Bloomberg Earnings reports.
Cidara Therapeutics (NASDAQ:CDTX) traded down $0.30 during midday trading on Thursday, hitting $7.65. The stock had a trading volume of 92,275 shares, compared to its average volume of 82,129. Cidara Therapeutics has a one year low of $5.60 and a one year high of $11.85. The company has a quick ratio of 7.49, a current ratio of 7.49 and a debt-to-equity ratio of 0.15.
A number of equities research analysts recently weighed in on CDTX shares. WBB Securities raised Cidara Therapeutics from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Zacks Investment Research cut Cidara Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $15.00 price target on shares of Cidara Therapeutics in a report on Tuesday, September 26th. ValuEngine raised Cidara Therapeutics from a “strong sell” rating to a “sell” rating in a report on Friday, July 14th. Finally, HC Wainwright raised their price target on Cidara Therapeutics from $14.00 to $16.00 and gave the company a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, one has issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Cidara Therapeutics currently has a consensus rating of “Buy” and an average price target of $13.39.
In other news, CEO Jeffrey Stein bought 7,350 shares of the stock in a transaction dated Tuesday, September 12th. The stock was bought at an average cost of $6.79 per share, with a total value of $49,906.50. Following the purchase, the chief executive officer now owns 51,851 shares of the company’s stock, valued at $352,068.29. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. 18.90% of the stock is currently owned by company insiders.
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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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