Tricida (TCDA) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Tricida (NASDAQ:TCDA) from a hold rating to a buy rating in a research note released on Thursday morning. The firm currently has $26.00 price target 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, Cowen restated a buy rating on shares of Tricida in a report on Friday, November 9th.

TCDA stock traded up $0.28 during mid-day trading on Thursday, reaching $23.24. 147,114 shares of the stock traded hands, compared to its average volume of 167,531. The company has a debt-to-equity ratio of 0.11, a quick ratio of 12.68 and a current ratio of 12.68. Tricida has a 52 week low of $21.08 and a 52 week high of $40.10.

Tricida (NASDAQ:TCDA) last released its quarterly earnings results on Thursday, November 8th. The company reported ($0.65) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.84) by $0.19. Equities analysts anticipate that Tricida will post -2.92 EPS for the current fiscal year.

In related news, insider Claire Lockey sold 10,000 shares of the stock in a transaction dated Wednesday, December 26th. The shares were sold at an average price of $25.06, for a total value of $250,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Klaus R. Dr Veitinger sold 9,814 shares of the stock in a transaction dated Wednesday, December 26th. The shares were sold at an average price of $24.97, for a total transaction of $245,055.58. The disclosure for this sale can be found here. Insiders have sold 21,163 shares of company stock valued at $527,266 over the last 90 days.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TCDA. Orbimed Advisors LLC bought a new stake in shares of Tricida in the second quarter valued at about $325,589,000. FMR LLC bought a new stake in shares of Tricida in the second quarter valued at about $33,329,000. Vanguard Group Inc bought a new stake in shares of Tricida in the third quarter valued at about $33,317,000. Vanguard Group Inc. bought a new stake in shares of Tricida in the third quarter valued at about $33,317,000. Finally, BlackRock Inc. lifted its stake in shares of Tricida by 216.4% in the third quarter. BlackRock Inc. now owns 1,005,103 shares of the company’s stock valued at $30,707,000 after buying an additional 687,414 shares during the period. Institutional investors and hedge funds own 68.39% of the company’s stock.

Tricida Company Profile

Tricida, Inc operates as a pharmaceutical company. It focuses on the development and commercialization of TRC101, a non-absorbed orally-administered polymer drug that has completed Phase III clinical trials to treat metabolic acidosis in patients with chronic kidney disease. The company was founded in 2013 and is headquartered in South San Francisco, California.

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