Cidara Therapeutics Inc(NASDAQ:CDTX) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during After-Market on Mar 15, 2017. Based on the corporate Earnings and Guidance, many Investment Banking firms balance their portfolio to Sell and Buy Stocks based on their strategy of investing in stocks.Earnings per share were $-0.88. The reported EPS was below estimates by -11.39%. Analysts had estimated an EPS of $-0.79.
In a different note, On Feb 22, 2017, WBB Securities said it Upgrades its rating on Cidara Therapeutics Inc. The shares have been rated ‘Hold’ by the firm. On Feb 22, 2017, WBB Securities said it Upgrades its rating on Cidara Therapeutics Inc. The shares have been rated ‘Hold’ by the firm. Leerink Swann said it Initiates Coverage On Cidara Therapeutics Inc, according to a research note issued on Dec 21, 2016. In the research note, the firm Announces the price-target to $17 per share. The shares have been rated ‘Outperform’ by the firm. H.C. Wainwright said it Initiates Coverage On Cidara Therapeutics Inc, according to a research note issued on Dec 19, 2016. In the research note, the firm Announces the price-target to $25 per share. The shares have been rated ‘Buy’ by the firm.
Cidara Therapeutics Inc (CDTX) made into the market gainers list on Fridays trading session with the shares advancing 1.42% or 0.1 points. Due to strong positive momentum, the stock ended at $7.15, which is also near the day’s high of $7.3. The stock began the session at $6.95 and the volume stood at 56,359 shares. The 52-week high of the shares is $15.91 and the 52 week low is $6.65. The company has a current market capitalization of $120 M and it has 1,68,01,184 shares in outstanding.
Several Insider Transactions has been reported to the SEC. On May 23, 2016, Kevin Forrest (CFO) purchased 4,356 shares at $11.53 per share price.Also, On May 23, 2016, Jeffrey Stein (CEO) purchased 4,310 shares at $11.51 per share price.On Apr 22, 2015, Nina S Kjellson (director) purchased 200,000 shares at $16.00 per share price, according to the Form-4 filing with the securities and exchange commission.
Cidara Therapeutics Inc. formerly K2 Therapeutics Inc. is a biotechnology company. The Company is focused on the discovery development and commercialization of anti-infective products. The Company’s products are the formulations of its compound CD101 which is an echinocandin. Its products include CD101 intravenous (biafungin) and CD101 topical (topifungin). In addition it owns an immunotherapy technology platform Cloudbreak. The Company is also developing other candidates for the treatment of bacterial and viral infections. CD101 IV and CD101 topical are in early stage of preclinical development. The Company’s Cloudbreak development candidates includeC001 and C016. It has conducted preclinical studies to evaluate the tolerability toxicity and pharmacokinetic profile of C001 in mice and guinea pigs. Cloudbreak development candidates have demonstrated preclinical proof-of-principle efficacy and safety in preclinical studies.