What is HC Wainwright’s Estimate for CDTX FY2024 Earnings?

Cidara Therapeutics, Inc. (NASDAQ:CDTX) – Analysts at HC Wainwright increased their FY2024 EPS estimates for shares of Cidara Therapeutics in a research note issued on Monday, November 11th. HC Wainwright analyst E. Arce now expects that the biotechnology company will earn ($8.74) per share for the year, up from their prior estimate of ($12.06). HC Wainwright currently has a “Buy” rating and a $24.00 target price on the stock. The consensus estimate for Cidara Therapeutics’ current full-year earnings is ($12.06) per share. HC Wainwright also issued estimates for Cidara Therapeutics’ Q4 2024 earnings at ($5.28) EPS, Q1 2025 earnings at ($5.13) EPS, Q2 2025 earnings at ($4.96) EPS, Q3 2025 earnings at ($4.27) EPS, Q4 2025 earnings at ($1.81) EPS, FY2025 earnings at ($14.39) EPS, FY2026 earnings at ($18.43) EPS, FY2027 earnings at ($19.29) EPS and FY2028 earnings at ($8.50) EPS.

Cidara Therapeutics (NASDAQ:CDTX) last released its quarterly earnings results on Tuesday, August 13th. The biotechnology company reported ($2.05) earnings per share for the quarter, beating the consensus estimate of ($3.94) by $1.89. The company had revenue of $0.30 million during the quarter. Cidara Therapeutics had a negative net margin of 289.05% and a negative return on equity of 69.64%.

CDTX has been the subject of several other research reports. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. StockNews.com cut Cidara Therapeutics from a “hold” rating to a “sell” rating in a report on Monday. Guggenheim started coverage on Cidara Therapeutics in a report on Friday, November 8th. They issued a “buy” rating and a $33.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of Cidara Therapeutics in a research report on Wednesday, August 14th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.50.

Cidara Therapeutics Stock Up 3.3 %

Shares of Cidara Therapeutics stock opened at $13.90 on Thursday. The stock has a market capitalization of $97.95 million, a price-to-earnings ratio of -0.54 and a beta of 0.99. Cidara Therapeutics has a twelve month low of $10.00 and a twelve month high of $24.40. The company has a 50-day simple moving average of $11.67 and a two-hundred day simple moving average of $12.08.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Cidara Therapeutics stock. Tocqueville Asset Management L.P. raised its position in Cidara Therapeutics, Inc. (NASDAQ:CDTX) by 71.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 163,000 shares of the biotechnology company’s stock after acquiring an additional 68,000 shares during the quarter. Tocqueville Asset Management L.P. owned approximately 3.57% of Cidara Therapeutics worth $150,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 35.82% of the company’s stock.

Cidara Therapeutics Company Profile

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.