Tricida (TCDA) Issues Earnings Results

Tricida (NASDAQ:TCDA) released its quarterly earnings data on Thursday. The company reported ($0.65) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.84) by $0.19, Fidelity Earnings reports.

Shares of NASDAQ TCDA traded up $1.31 during trading on Friday, hitting $29.72. The company had a trading volume of 102,280 shares, compared to its average volume of 164,993. Tricida has a fifty-two week low of $21.87 and a fifty-two week high of $40.10.

A number of research analysts have weighed in on TCDA shares. Goldman Sachs Group started coverage on shares of Tricida in a report on Monday, July 23rd. They issued a “neutral” rating and a $32.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of Tricida in a research report on Monday, July 23rd. They issued a “neutral” rating and a $34.00 target price on the stock. Cowen began coverage on shares of Tricida in a research report on Monday, July 23rd. They issued an “outperform” rating and a $50.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Tricida from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Tuesday, September 25th.

Several hedge funds and other institutional investors have recently made changes to their positions in TCDA. Strs Ohio acquired a new stake in shares of Tricida in the third quarter valued at about $100,000. Wells Fargo & Company MN acquired a new stake in shares of Tricida in the third quarter valued at about $170,000. American International Group Inc. acquired a new stake in shares of Tricida in the third quarter valued at about $237,000. Rhumbline Advisers acquired a new stake in shares of Tricida in the third quarter valued at about $270,000. Finally, Janus Henderson Group PLC acquired a new stake in shares of Tricida in the second quarter valued at about $299,000. Institutional investors and hedge funds own 62.43% of the company’s stock.

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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: What is an Initial Public Offering (IPO)?

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