Cidara Therapeutics (NASDAQ:CDTX) Posts Quarterly Earnings Results, Beats Estimates By $3.79 EPS

Cidara Therapeutics (NASDAQ:CDTX - Get Free Report) issued its earnings results on Thursday. The biotechnology company reported ($1.66) EPS for the quarter, topping the consensus estimate of ($5.45) by $3.79, Zacks reports. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%.

Cidara Therapeutics Trading Down 3.4 %

Cidara Therapeutics stock traded down $0.65 on Friday, hitting $18.50. 61,607 shares of the stock traded hands, compared to its average volume of 71,873. The business's fifty day simple moving average is $20.56 and its 200 day simple moving average is $20.30. The firm has a market cap of $232.12 million, a P/E ratio of -0.72 and a beta of 0.86. Cidara Therapeutics has a 1 year low of $10.14 and a 1 year high of $28.42.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on CDTX shares. Citigroup began coverage on shares of Cidara Therapeutics in a research note on Wednesday, March 12th. They set an "outperform" rating for the company. Guggenheim boosted their price target on Cidara Therapeutics from $33.00 to $35.00 and gave the company a "buy" rating in a report on Friday. Citizens Jmp started coverage on Cidara Therapeutics in a report on Wednesday, March 12th. They issued an "outperform" rating and a $46.00 price objective for the company. StockNews.com raised Cidara Therapeutics to a "sell" rating in a research note on Saturday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $35.00 price target on shares of Cidara Therapeutics in a report on Thursday, April 10th. One analyst has rated the stock with a sell rating, seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $39.57.

Insider Buying and Selling

In other Cidara Therapeutics news, insider Leslie Tari sold 1,773 shares of the business's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $21.96, for a total value of $38,935.08. Following the sale, the insider now directly owns 16,215 shares of the company's stock, valued at approximately $356,081.40. The trade was a 9.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Shane Ward sold 1,664 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $21.96, for a total value of $36,541.44. Following the transaction, the chief operating officer now owns 14,674 shares of the company's stock, valued at $322,241.04. The trade was a 10.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.89% of the stock is owned by company insiders.

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.

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