Tricida Inc (NASDAQ:TCDA) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Tricida Inc (NASDAQ:TCDA) have been given an average rating of “Hold” by the six analysts that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $51.50.

A number of brokerages have weighed in on TCDA. Zacks Investment Research raised Tricida from a “sell” rating to a “hold” rating in a research note on Thursday, December 26th. Cowen set a $50.00 price target on Tricida and gave the stock a “buy” rating in a research note on Tuesday, October 15th. Finally, ValuEngine lowered Tricida from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th.

Shares of Tricida stock traded up $0.02 during trading hours on Friday, reaching $34.86. 328,806 shares of the company’s stock were exchanged, compared to its average volume of 245,835. Tricida has a 52-week low of $19.43 and a 52-week high of $44.30. The firm has a market capitalization of $1.73 billion, a price-to-earnings ratio of -10.89 and a beta of 0.80. The company has a fifty day moving average of $38.53 and a 200-day moving average of $35.50. The company has a current ratio of 15.48, a quick ratio of 15.48 and a debt-to-equity ratio of 0.15.

Tricida (NASDAQ:TCDA) last issued its quarterly earnings results on Thursday, November 14th. The company reported ($0.89) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.89). On average, equities research analysts anticipate that Tricida will post -3.75 earnings per share for the current fiscal year.

In related news, Director Robert J. Alpern sold 11,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $36.96, for a total value of $406,560.00. Also, insider Sibling Capital Fund Ii-A L.P. sold 301,267 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $39.38, for a total value of $11,863,894.46. In the last three months, insiders have sold 697,728 shares of company stock worth $27,744,447. Corporate insiders own 66.70% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of TCDA. FMR LLC raised its position in shares of Tricida by 9.7% in the 1st quarter. FMR LLC now owns 1,213,065 shares of the company’s stock worth $46,849,000 after buying an additional 107,500 shares during the period. Wells Fargo & Company MN raised its position in shares of Tricida by 343.0% in the 2nd quarter. Wells Fargo & Company MN now owns 43,625 shares of the company’s stock worth $1,721,000 after buying an additional 33,778 shares during the period. Bank of Montreal Can purchased a new position in shares of Tricida in the 2nd quarter worth $72,000. Charles Schwab Investment Management Inc. raised its position in shares of Tricida by 54.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 145,215 shares of the company’s stock worth $5,731,000 after buying an additional 51,076 shares during the period. Finally, Bank of New York Mellon Corp raised its position in shares of Tricida by 25.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 102,769 shares of the company’s stock worth $4,055,000 after buying an additional 20,935 shares during the period. 79.28% of the stock is currently owned by institutional investors and hedge funds.

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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