The stock of Cidara Therapeutics Inc (NASDAQ:CDTX) reached all time low today, Nov, 3 and still has $7.88 target or 10.00% below today’s $8.75 share price. This indicates more downside for the $143.29M company. This technical setup was reported by Barchart.com. If the $7.88 PT is reached, the company will be worth $14.33M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 23,613 shares traded hands. Cidara Therapeutics Inc (NASDAQ:CDTX) has declined 26.72% since April 1, 2016 and is downtrending. It has underperformed by 27.93% the S&P500.
Analysts await Cidara Therapeutics Inc (NASDAQ:CDTX) to report earnings on November, 21. They expect $-0.80 earnings per share, down 19.40% or $0.13 from last year’s $-0.67 per share. After $-0.85 actual earnings per share reported by Cidara Therapeutics Inc for the previous quarter, Wall Street now forecasts -5.88% EPS growth.
According to Zacks Investment Research, “Cidara Therapeutics, Inc. is a biotechnology company. The company is focused on the discovery, development and commercialization of novel anti-infectives. Its product pipeline includes CD101 IV, a long-acting echinocandin antifungal, CD101 topical and C001 which are in different clinical trial. The company developed its product using Cloudbreak(TM) immunotherapy platform. Cidara Therapeutics, Inc. is headquartered in San Diego, California.”
More recent Cidara Therapeutics Inc (NASDAQ:CDTX) news were published by: Globenewswire.com which released: “Cidara Therapeutics Expands Management Team” on July 05, 2016. Also Businesswire.com published the news titled: “Cidara Therapeutics Announces Data from Studies of Novel Antifungal CD101 to …” on October 24, 2016. Fiercebiotech.com‘s news article titled: “Cidara Therapeutics – 2014 Fierce 15” with publication date: September 22, 2014 was also an interesting one.
CDTX Company Profile
Cidara Therapeutics, Inc., formerly K2 Therapeutics, Inc., incorporated on December 06, 2012, is a clinical-stage biotechnology company. The Firm is engaged in the discovery, development and commercialization of anti-infectives. The Firm is developing a pipeline of product and development candidates, with a focus on serious fungal infections. The Company’s lead clinical candidates are echinocandins, a class of antifungals. The Company’s product portfolio consists of over two formulations of its echinocandin, CD101. CD101 IV is a long-acting therapy for the treatment and prevention of serious, invasive fungal infections. CD101 topical, its second product candidate, is being developed for the treatment of vulvovaginal candidiasis (VVC) and recurrent VVC (RVVC), a prevalent mucosal infection. In addition, it has developed an immunotherapy technology platform, Cloudbreak, which is used to create compounds designed to direct a patient’s immune cells to attack and eliminate pathogens that cause infectious disease. It is evaluating Cloudbreak candidates for the treatment of invasive fungal infections, including aspergillosis, an infection caused by the fungal pathogen, Aspergillus.
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