Shares of Tricida Inc (NASDAQ:TCDA) traded up 6.1% during mid-day trading on Friday . The company traded as high as $34.95 and last traded at $34.64, 170,380 shares traded hands during trading. A decline of 41% from the average session volume of 287,756 shares. The stock had previously closed at $32.64.
Several brokerages recently issued reports on TCDA. Needham & Company LLC set a $50.00 price objective on Tricida and gave the stock a “buy” rating in a research report on Monday, August 12th. Goldman Sachs Group began coverage on Tricida in a research report on Wednesday, June 26th. They set a “buy” rating and a $48.00 price objective for the company. Zacks Investment Research downgraded Tricida from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Cowen restated a “buy” rating and set a $50.00 price objective on shares of Tricida in a research report on Thursday, August 8th.
The company has a debt-to-equity ratio of 0.11, a quick ratio of 8.30 and a current ratio of 14.23. The company has a 50-day moving average of $33.72 and a 200-day moving average of $31.38.
Tricida (NASDAQ:TCDA) last issued its quarterly earnings data on Thursday, August 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.87) by $0.12. Analysts predict that Tricida Inc will post -3.54 earnings per share for the current fiscal year.
In related news, Director Robert J. Alpern sold 3,000 shares of Tricida stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $37.05, for a total transaction of $111,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Claire Lockey sold 40,401 shares of Tricida stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $37.10, for a total value of $1,498,877.10. The disclosure for this sale can be found here. Insiders have sold a total of 90,126 shares of company stock valued at $3,218,846 over the last 90 days. Insiders own 66.70% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Quantamental Technologies LLC acquired a new position in Tricida in the 1st quarter valued at $39,000. Bank of Montreal Can acquired a new position in Tricida in the 2nd quarter valued at $72,000. Marshall Wace North America L.P. raised its holdings in Tricida by 99.0% in the 1st quarter. Marshall Wace North America L.P. now owns 2,591 shares of the company’s stock valued at $100,000 after acquiring an additional 1,289 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its holdings in Tricida by 356.7% in 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, SG Americas Securities LLC acquired a new position in Tricida in the 1st quarter valued at $143,000. Institutional investors own 63.12% of the company’s stock.
About Tricida (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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