Tricida (NASDAQ:TCDA) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Tricida (NASDAQ:TCDA) from a hold rating to a buy rating in a research report released on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $10.00 price objective on the stock.

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. “

Separately, JPMorgan Chase & Co. raised shares of Tricida from an underweight rating to a neutral rating and set a $7.00 target price on the stock in a research note on Tuesday, November 16th.

TCDA opened at $8.91 on Wednesday. Tricida has a twelve month low of $3.55 and a twelve month high of $9.90. The company has a 50-day moving average price of $8.02 and a 200 day moving average price of $5.60. The company has a quick ratio of 5.88, a current ratio of 5.88 and a debt-to-equity ratio of 65.82. The company has a market cap of $449.49 million, a PE ratio of -2.47 and a beta of 1.12.

Tricida (NASDAQ:TCDA) last released its earnings results on Monday, November 8th. The company reported ($0.79) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.09). During the same quarter last year, the firm posted ($1.55) earnings per share. As a group, sell-side analysts expect that Tricida will post -3.22 earnings per share for the current year.

In other news, CEO Gerrit Klaerner sold 126,000 shares of Tricida stock in a transaction on Monday, November 15th. The stock was sold at an average price of $6.02, for a total transaction of $758,520.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sandra I. Coufal sold 7,500 shares of the business’s stock in a transaction dated Monday, December 20th. The shares were sold at an average price of $8.54, for a total transaction of $64,050.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 171,669 shares of company stock worth $1,126,141. Insiders own 70.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in TCDA. Advisory Services Network LLC purchased a new position in Tricida in the second quarter worth approximately $26,000. Virtu Financial LLC purchased a new position in shares of Tricida during the 2nd quarter worth $47,000. Hsbc Holdings PLC purchased a new position in shares of Tricida during the 3rd quarter worth $47,000. LMR Partners LLP acquired a new stake in shares of Tricida during the 2nd quarter worth about $57,000. Finally, Jackson Square Capital LLC raised its holdings in Tricida by 36.6% in the 3rd quarter. Jackson Square Capital LLC now owns 17,978 shares of the company’s stock valued at $83,000 after buying an additional 4,820 shares during the period. 85.29% of the stock is currently owned by hedge funds and other institutional investors.

About Tricida

Tricida, Inc is a pharmaceutical company. It focuses on the development and commercialization of its product, TRC101, a non-absorbed, orally-administered polymer drug designed to treat metabolic acidosis in patients with chronic kidney disease. The company was founded by Gerrit Klaerner and Craig Jon Hawker in 2013 and is headquartered in South San Francisco, CA.

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