Zacks Investment Research Lowers Tricida (TCDA) to Sell

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Zacks Investment Research downgraded shares of Tricida (NASDAQ:TCDA) from a hold rating to a sell rating in a research note released on Wednesday morning.

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. “

A number of other brokerages have also recently issued reports on TCDA. Cowen began coverage on Tricida in a report on Monday, July 23rd. They set an outperform rating and a $50.00 price objective for the company. JPMorgan Chase & Co. began coverage on Tricida in a report on Monday, July 23rd. They set a neutral rating and a $34.00 price objective for the company. Finally, Goldman Sachs Group began coverage on Tricida in a report on Monday, July 23rd. They set a neutral rating and a $32.00 price objective for the company.

NASDAQ TCDA traded down $0.43 during trading on Wednesday, reaching $28.63. 94,043 shares of the company’s stock were exchanged, compared to its average volume of 179,046. The company has a debt-to-equity ratio of -0.08, a current ratio of 2.22 and a quick ratio of 2.22. Tricida has a fifty-two week low of $21.87 and a fifty-two week high of $40.10.

Tricida (NASDAQ:TCDA) last announced its quarterly earnings results on Wednesday, August 8th. The company reported ($0.60) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.40. As a group, equities research analysts expect that Tricida will post -3.12 EPS for the current fiscal year.

Large investors have recently modified their holdings of the company. Janus Henderson Group PLC bought a new stake in shares of Tricida during the second quarter worth approximately $299,000. MYDA Advisors LLC bought a new stake in shares of Tricida during the second quarter worth approximately $359,000. Northern Trust Corp bought a new stake in shares of Tricida during the second quarter worth approximately $448,000. United Services Automobile Association bought a new stake in shares of Tricida during the second quarter worth approximately $568,000. Finally, TD Asset Management Inc. bought a new stake in shares of Tricida during the second quarter worth approximately $574,000. Institutional investors own 62.42% of the company’s stock.

Tricida Company Profile

Tricida, Inc, a late-stage pharmaceutical company, focuses on developing therapeutics to address renal, metabolic, and cardiovascular disease. Its lead product candidate, TRC101, a non-absorbed orally-administered polymer drug that is in Phase III clinical trials used to treat metabolic acidosis in patients with chronic kidney disease.

Further Reading: Price to Earnings Ratio (PE) Basics

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