Tricida Inc (NASDAQ:TCDA) rose 9% on Thursday . The stock traded as high as $39.59 and last traded at $38.20. Approximately 403,522 shares were traded during trading, an increase of 34% from the average daily volume of 301,494 shares. The stock had previously closed at $35.05.
TCDA has been the topic of several recent analyst reports. Goldman Sachs Group started coverage on Tricida in a research report on Wednesday. They set a “buy” rating and a $48.00 target price on the stock. Zacks Investment Research lowered Tricida from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Empire upped their price target on Tricida from $37.00 to $58.00 in a research note on Monday, April 1st. Cowen restated a “buy” rating and set a $50.00 price target on shares of Tricida in a research note on Tuesday. Finally, Needham & Company LLC started coverage on Tricida in a research note on Friday, May 24th. They set a “buy” rating and a $50.00 price target for the company. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $47.00.
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 business has a 50 day moving average price of $36.01.
In other news, Director Orbimed Advisors Llc purchased 225,000 shares of the company’s stock in a transaction on Wednesday, April 3rd. The stock was bought at an average cost of $36.00 per share, for a total transaction of $8,100,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 66.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Quantamental Technologies LLC acquired a new stake in shares of Tricida in the first quarter valued at about $39,000. Marshall Wace North America L.P. grew its stake in shares of Tricida by 99.0% in 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 in the last quarter. Great West Life Assurance Co. Can acquired a new stake in shares of Tricida in the fourth quarter valued at about $71,000. SG Americas Securities LLC acquired a new stake in shares of Tricida in the first quarter valued at about $143,000. Finally, BNP Paribas Arbitrage SA grew its stake in shares of Tricida by 1,586.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,030 shares of the company’s stock valued at $156,000 after buying an additional 3,791 shares in the last quarter. Institutional investors and hedge funds own 62.89% of the company’s stock.
Tricida Company Profile (NASDAQ:TCDA)
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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