Tricida (TCDA) Cut to “Hold” at Zacks Investment Research

Tricida (NASDAQ:TCDA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

According to Zacks, “Tricida, Inc. is a late-stage pharmaceutical company. It focuses on the discovery and clinical development of novel therapeutics to address renal, metabolic and cardiovascular diseases. The company’s product candidate consists of TRC101, a non-absorbed, orally-administered polymer drug designed to treat metabolic acidosis in patients with chronic kidney disease. Tricida, Inc. is based in CA, United States. “

Other analysts have also recently issued research reports about the company. Cowen assumed coverage on Tricida in a research report on Monday, July 23rd. They set an “outperform” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. assumed coverage on Tricida in a research report on Monday, July 23rd. They set a “neutral” rating and a $34.00 target price on the stock. Finally, Goldman Sachs Group assumed coverage on Tricida in a research report on Monday, July 23rd. They set a “neutral” rating and a $32.00 target price on the stock.

TCDA traded down $0.22 during trading on Wednesday, hitting $33.42. 1,304 shares of the stock were exchanged, compared to its average volume of 282,602. Tricida has a 1 year low of $21.87 and a 1 year high of $40.10. The company has a debt-to-equity ratio of -0.08, a quick ratio of 2.22 and a current ratio of 2.22.

Tricida (NASDAQ:TCDA) last released its quarterly earnings data on Wednesday, August 8th. The company reported ($0.60) EPS for the quarter, topping the consensus estimate of ($1.00) by $0.40. research analysts anticipate that Tricida will post -3.12 EPS for the current year.

In other Tricida news, VP Steffen Pietzke acquired 10,527 shares of the stock in a transaction dated Monday, July 2nd. The stock was purchased at an average price of $19.00 per share, with a total value of $200,013.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Edward J. Hejlek acquired 13,158 shares of the stock in a transaction dated Monday, July 2nd. The stock was acquired at an average cost of $19.00 per share, with a total value of $250,002.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 623,686 shares of company stock worth $11,850,034 in the last ninety days.

Several institutional investors have recently bought and sold shares of the company. Northern Trust Corp acquired a new stake in shares of Tricida in the 2nd quarter worth $448,000. Millennium Management LLC acquired a new stake in shares of Tricida in the 2nd quarter worth $8,766,000. Orbimed Advisors LLC acquired a new stake in shares of Tricida in the 2nd quarter worth $325,589,000. Redmile Group LLC acquired a new stake in shares of Tricida in the 2nd quarter worth $14,950,000. Finally, Baker BROS. Advisors LP acquired a new stake in shares of Tricida in the 2nd quarter worth $47,840,000. 62.42% of the stock is owned by hedge funds and other institutional investors.

Tricida Company Profile

Tricida, Inc, a late-stage pharmaceutical company, focuses on developing therapeutics to address renal, metabolic, and cardiovascular disease. Its lead product candidate, TRC101, a non-absorbed orally-administered polymer drug that is in Phase III clinical trials used to treat metabolic acidosis in patients with chronic kidney disease.

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