In the last trading session, 1,763,495 shares of the Cidara Therapeutics, Inc.(NASDAQ:CDTX) were traded, and its beta was 1.49. Most recently the company’s share price was $2.76, and it changed around $0.12 or 0.05% from the last close, which brings the market valuation of the company to $121.27 Million. CDTX currently trades at a discount to its 52-week high of $4.45, offering almost -61.23% off that amount. The share price’s 52-week low was $1.3, which indicates that the current value has risen by an impressive 52.9% since then. We note from Cidara Therapeutics, Inc.’s average daily trading volume that its 10-day average is 3.18 Million shares, with the 3-month average coming to 785.52 Million.
Cidara Therapeutics, Inc. stock received a consensus recommendation rating of Buy, based on a mean score of 1.7. If we narrow it down even further, the data shows that none out of 4 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, no body recommended CDTX as a Hold, whereas 4 deemed it a Buy, and no one rated it as Underweight. Cidara Therapeutics, Inc. is expected to report earnings per share of -$0.24 for the current quarter.
Cidara Therapeutics, Inc. (NASDAQ:CDTX): Trading Information
Instantly CDTX has showed a green trend with a performance of 4.55% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $3.15- on Tuesday, Feb 16 increased the stock’s daily price by 12.38%. The company’s shares are currently up 0.38% year-to-date, but still up 0.1358 over the last five days. On the other hand, Cidara Therapeutics, Inc. (NASDAQ:CDTX) is 0.12% up in the 30-day period. We can see from the shorts that 1.42 Million shares have been sold at a short interest cover period of 0 day(s).
The consensus price target as assigned by Wall Street analysts is $6.25, which translates to bears needing to increase their stock price by 126.45% from its current value. Analyst projections state that CDTX is forecast to be at a low of $4 and a high of $10. In order for the stock price to hit the forecast high, the stock would need to surge +262.32% from its current level, while the stock would need to crash 44.93% from its current level to reach the projected low.
Cidara Therapeutics, Inc. (CDTX) projections and forecasts
Cidara Therapeutics, Inc. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -29.23 percent over the past six months and at a -2.13% annual growth rate that is well below the industry average of 14%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +42.9% in revenue this quarter, and will report an increase of 32.6% in the next quarter. The year-over-year growth rate is expected to be -11.4%, down from the previous year.
Consensus estimates provided by 4 financial analysts predict the company will bring in an average of $10.21 Million in revenue for the current quarter. 1 analysts expect Cidara Therapeutics, Inc. to make $4Million in revenue for the quarter ending March 01, 2021. The company’s sales for the same quarters a year ago were $1.81 Million and $2.53 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 462.5%. Forecasts for the next quarter put sales growth at 58.1%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -9.9%. Cidara Therapeutics, Inc. earnings are expected to increase by 48.8% in 2021, but the outlook is negative 0% per year for the next five years.
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Cidara Therapeutics, Inc. (NASDAQ:CDTX)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 17.54% of Cidara Therapeutics, Inc. shares, and 65.31% of them are in the hands of institutional investors. The stock currently has a share float of 79.21%. Cidara Therapeutics, Inc. stock is held by 91 institutions, with BVF Inc. being the largest institutional investor. By Sep 29, 2020, it held 8.57% of the shares, which is about 3.77 Million shares worth $10.74 Million.
Bellevue Group AG, with 6.42% or 2.82 Million shares worth $8.04 Million as of Sep 29, 2020, holds the second largest percentage of outstanding shares.