Cidara Therapeutics (NASDAQ:CDTX) Releases Earnings Results, Misses Estimates By $0.10 EPS

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

Cidara Therapeutics Stock Performance

Shares of CDTX opened at $23.61 on Friday. The stock’s 50-day simple moving average is $22.51 and its 200 day simple moving average is $17.33. Cidara Therapeutics has a 52-week low of $10.00 and a 52-week high of $28.42. The stock has a market capitalization of $166.38 million, a price-to-earnings ratio of -0.93 and a beta of 0.94.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Royal Bank of Canada assumed coverage on Cidara Therapeutics in a research note on Friday, December 13th. They issued an “outperform” rating and a $34.00 price objective for the company. Guggenheim assumed coverage on Cidara Therapeutics in a research note on Friday, November 8th. They issued a “buy” rating and a $33.00 price objective for the company. HC Wainwright restated a “buy” rating and issued a $24.00 price objective on shares of Cidara Therapeutics in a research note on Monday, November 11th. StockNews.com downgraded Cidara Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, November 11th. Finally, WBB Securities increased their price target on Cidara Therapeutics from $40.00 to $45.00 and gave the stock a “strong-buy” rating in a research note on Thursday, December 5th. One analyst has rated the stock with a sell rating, four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently 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.