Tricida (NASDAQ:TCDA) Upgraded by ValuEngine to Hold

ValuEngine upgraded shares of Tricida (NASDAQ:TCDA) from a sell rating to a hold rating in a report released on Friday morning, ValuEngine reports.

Several other brokerages also recently issued reports on TCDA. Zacks Investment Research upgraded Tricida from a sell rating to a hold rating in a research report on Thursday, October 10th. Cowen set a $50.00 price objective on Tricida and gave the company a buy rating in a research report on Tuesday, October 15th. Finally, Needham & Company LLC set a $50.00 price objective on Tricida and gave the company a buy rating in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $48.33.

TCDA traded up $0.66 during trading on Friday, hitting $34.26. The company’s stock had a trading volume of 295,700 shares, compared to its average volume of 266,288. The firm’s 50 day moving average price is $34.75 and its two-hundred day moving average price is $34.58. The company has a quick ratio of 14.22, a current ratio of 14.23 and a debt-to-equity ratio of 0.11. Tricida has a 12 month low of $19.43 and a 12 month high of $42.80. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of -7.38 and a beta of 0.85.

Tricida (NASDAQ:TCDA) last issued its quarterly earnings data on Thursday, November 14th. The company reported ($0.89) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.89). On average, sell-side analysts forecast that Tricida will post -3.53 earnings per share for the current year.

In other Tricida news, CEO Gerrit Klaerner sold 4,000 shares of Tricida stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $33.71, for a total value of $134,840.00. Following the completion of the transaction, the chief executive officer now owns 652,119 shares in the company, valued at approximately $21,982,931.49. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Klaus R. Dr Veitinger sold 4,200 shares of Tricida stock in a transaction on Monday, August 26th. The shares were sold at an average price of $33.16, for a total value of $139,272.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 83,921 shares of company stock valued at $2,862,205. Corporate insiders own 66.70% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TCDA. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Tricida in the 3rd quarter valued at $29,000. Tower Research Capital LLC TRC acquired a new stake in shares of Tricida in the 3rd quarter valued at $57,000. Bank of Montreal Can acquired a new stake in shares of Tricida in the 2nd quarter valued at $72,000. Nisa Investment Advisors LLC acquired a new stake in shares of Tricida in the 3rd quarter valued at $145,000. Finally, Strs Ohio increased its stake in shares of Tricida by 8.3% in the 2nd quarter. Strs Ohio now owns 5,200 shares of the company’s stock valued at $205,000 after buying an additional 400 shares during the period. 81.28% of the stock is owned by institutional investors.

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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