Price Action To Observe: Could Cidara Therapeutics Inc Crash Even More? The Stock Just Made Yearly Low

Price Action To Observe: Could Cidara Therapeutics Inc Crash Even More? The Stock Just Made Yearly Low

The stock of Cidara Therapeutics Inc (NASDAQ:CDTX) hit a new 52-week low and has $8.01 target or 11.00% below today’s $9.00 share price. The 5 months bearish chart indicates high risk for the $147.38 million company. The 1-year low was reported on Nov, 7 by Barchart.com. If the $8.01 price target is reached, the company will be worth $16.21 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock increased 1.12% or $0.1 on November 7, hitting $9. About 66,685 shares traded hands. Cidara Therapeutics Inc (NASDAQ:CDTX) has declined 30.31% since April 5, 2016 and is downtrending. It has underperformed by 32.26% 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 news for Cidara Therapeutics Inc (NASDAQ:CDTX) were recently published by: Globenewswire.com, which released: “Cidara Therapeutics Expands Management Team” on July 05, 2016. Fiercebiotech.com‘s article titled: “Cidara Therapeutics – 2014 Fierce 15” and published on September 22, 2014 is yet another important article.

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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