Brokerages Anticipate Tricida Inc (NASDAQ:TCDA) Will Announce Earnings of -$0.96 Per Share

Wall Street analysts expect that Tricida Inc (NASDAQ:TCDA) will announce earnings per share (EPS) of ($0.96) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Tricida’s earnings. Tricida reported earnings of ($0.66) per share during the same quarter last year, which indicates a negative year over year growth rate of 45.5%. The business is scheduled to issue its next quarterly earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Tricida will report full year earnings of ($3.54) per share for the current year, with EPS estimates ranging from ($3.67) to ($3.40). For the next year, analysts anticipate that the firm will post earnings of ($3.64) per share, with EPS estimates ranging from ($3.93) to ($3.35). Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Tricida.

Tricida (NASDAQ:TCDA) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.75) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.87) by $0.12.



A number of brokerages have recently weighed in on TCDA. Needham & Company LLC began coverage on shares of Tricida in a research note on Friday, May 24th. They issued a “buy” rating and a $50.00 price target for the company. Zacks Investment Research lowered shares of Tricida from a “hold” rating to a “sell” rating in a research note on Friday, July 12th. Goldman Sachs Group started coverage on shares of Tricida in a research note on Wednesday, June 26th. They set a “buy” rating and a $48.00 target price for the company. Finally, Cowen reissued a “buy” rating and set a $50.00 target price on shares of Tricida in a research note on Thursday, August 8th.

NASDAQ TCDA traded up $0.72 on Thursday, hitting $33.14. The stock had a trading volume of 185,805 shares, compared to its average volume of 289,749. Tricida has a one year low of $19.43 and a one year high of $42.80. The company has a debt-to-equity ratio of 0.24, a quick ratio of 8.30 and a current ratio of 8.30. The stock has a market cap of $1.62 billion, a PE ratio of -7.14 and a beta of 0.90. The firm’s 50-day simple moving average is $33.92.

In related news, SVP Dawn Parsell Otto sold 15,407 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $37.04, for a total transaction of $570,675.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Claire Lockey sold 10,000 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $32.02, for a total transaction of $320,200.00. 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 ninety days. 66.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its position in Tricida by 47.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,500,373 shares of the company’s stock valued at $57,314,000 after acquiring an additional 486,178 shares in the last quarter. FMR LLC increased its position in Tricida by 9.7% in the 1st quarter. FMR LLC now owns 1,213,065 shares of the company’s stock valued at $46,849,000 after acquiring an additional 107,500 shares in the last quarter. Federated Investors Inc. PA increased its position in Tricida by 8.6% in the 1st quarter. Federated Investors Inc. PA now owns 443,100 shares of the company’s stock valued at $17,113,000 after acquiring an additional 35,200 shares in the last quarter. Artal Group S.A. increased its position in Tricida by 60.0% in the 2nd quarter. Artal Group S.A. now owns 360,000 shares of the company’s stock valued at $14,206,000 after acquiring an additional 135,000 shares in the last quarter. Finally, Global Endowment Management LP acquired a new stake in Tricida in the 2nd quarter valued at about $13,149,000. Hedge funds and other institutional investors own 63.12% of the company’s stock.

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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