Tricida Inc (TCDA) Given Average Recommendation of “Buy” by Brokerages

Shares of Tricida Inc (NASDAQ:TCDA) have earned an average broker rating score of 2.00 (Buy) from the two brokers that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.

Analysts have set a 12 month consensus target price of $44.00 for the company and are anticipating that the company will post ($0.80) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Tricida an industry rank of 46 out of 255 based on the ratings given to related companies.

A number of research analysts have weighed in on the company. Zacks Investment Research raised Tricida from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Saturday, March 30th. Empire lifted their target price on Tricida from $37.00 to $58.00 in a report on Monday, April 1st.

TCDA traded down $2.15 during trading hours on Wednesday, hitting $31.51. The stock had a trading volume of 424,331 shares, compared to its average volume of 341,076. Tricida has a 1 year low of $19.43 and a 1 year high of $40.83. The firm has a market cap of $1.40 billion and a P/E ratio of -6.79. The company has a debt-to-equity ratio of 0.20, a quick ratio of 16.51 and a current ratio of 16.50.

Tricida (NASDAQ:TCDA) last announced its quarterly earnings data on Thursday, March 28th. The company reported ($0.66) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.23. As a group, research analysts predict that Tricida will post -3.34 earnings per share for the current fiscal year.

In other news, SVP Dawn Parsell Otto sold 2,000 shares of Tricida stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $25.00, for a total transaction of $50,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Orbimed Advisors Llc purchased 225,000 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The shares were acquired at an average price of $36.00 per share, with a total value of $8,100,000.00. The disclosure for this purchase can be found here. Insiders have sold a total of 151,794 shares of company stock valued at $4,407,688 in the last ninety days.

Institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc bought a new stake in shares of Tricida during the 3rd quarter valued at about $54,000. Great West Life Assurance Co. Can bought a new stake in shares of Tricida during the 4th quarter valued at about $71,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Tricida during the 4th quarter valued at about $99,000. Metropolitan Life Insurance Co. NY boosted its position in shares of Tricida by 356.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,946 shares of the company’s stock valued at $140,000 after acquiring an additional 4,644 shares during the last quarter. Finally, Barclays PLC boosted its position in shares of Tricida by 14.4% during the 4th quarter. Barclays PLC now owns 7,176 shares of the company’s stock valued at $169,000 after acquiring an additional 906 shares during the last quarter. Hedge funds and other institutional investors own 69.36% of the company’s stock.

Tricida Company Profile

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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