Tricida (NASDAQ:TCDA) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of Tricida (NASDAQ:TCDA) from a hold rating to a sell rating in a report released on Friday, Zacks.com reports.

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 equities analysts have also recently issued reports about the company. Goldman Sachs Group started coverage on Tricida in a research report on Wednesday, June 26th. They issued a buy rating and a $48.00 price objective on the stock. Cowen reiterated a buy rating and set a $50.00 target price on shares of Tricida in a research note on Tuesday, June 25th. Needham & Company LLC boosted their target price on shares of ViaSat from $78.00 to $100.00 and gave the company a buy rating in a research note on Friday, May 24th. Finally, Empire boosted their target price on shares of Tricida from $37.00 to $58.00 in a research note on Monday, April 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. Tricida currently has a consensus rating of Hold and an average price target of $47.00.

TCDA stock opened at $33.05 on Friday. The company has a market cap of $1.65 billion and a PE ratio of -7.12. Tricida has a 12-month low of $19.43 and a 12-month high of $42.80. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.30 and a quick ratio of 8.30. The company has a 50 day simple moving average of $35.93.

Tricida (NASDAQ:TCDA) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.80) by ($0.10). As a group, analysts predict that Tricida will post -3.44 EPS for the current year.

In other Tricida news, Director Robert J. Alpern sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $37.05, for a total transaction of $111,150.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Dawn Parsell Otto sold 15,407 shares of the business’s stock in a transaction on Wednesday, July 3rd. The shares were sold at an average price of $37.04, for a total transaction of $570,675.28. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,126 shares of company stock valued at $2,586,416. Company insiders own 66.70% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC increased its holdings in Tricida by 9.7% during the first quarter. FMR LLC now owns 1,213,065 shares of the company’s stock valued at $46,849,000 after buying an additional 107,500 shares during the period. MetLife Investment Advisors LLC increased its holdings in Tricida by 68.8% during the first quarter. MetLife Investment Advisors LLC now owns 8,804 shares of the company’s stock valued at $340,000 after buying an additional 3,587 shares during the period. Marshall Wace North America L.P. increased its holdings in Tricida by 99.0% during the first quarter. Marshall Wace North America L.P. now owns 2,591 shares of the company’s stock valued at $100,000 after buying an additional 1,289 shares during the period. Marshall Wace LLP purchased a new position in Tricida during the first quarter valued at approximately $2,546,000. Finally, Federated Investors Inc. PA increased its holdings in Tricida by 8.6% during the first quarter. Federated Investors Inc. PA now owns 443,100 shares of the company’s stock valued at $17,113,000 after buying an additional 35,200 shares during the period. Institutional investors and hedge funds own 62.89% of the company’s stock.

About Tricida

Tricida, Inc, a pharmaceutical company, focuses on the development and commercialization of its drug candidate, TRC101, a non-absorbed, orally-administered polymer designed as a potential treatment for metabolic acidosis in patients with chronic kidney disease (CKD). It has completed a Phase 3, double-blind, placebo-controlled trial of TRC101 in patients with CKD and metabolic acidosis.

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