Tricida (NASDAQ:TCDA) has been assigned a $50.00 price target by stock analysts at Needham & Company LLC in a note issued to investors on Monday, TipRanks reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 55.86% from the stock’s previous close.
TCDA has been the subject of several other reports. Zacks Investment Research downgraded Tricida from a “hold” rating to a “sell” rating in a research note on Wednesday. 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 target for the company. Finally, Cowen reissued a “buy” rating and issued a $50.00 target price on shares of Tricida in a research report on Thursday, August 8th.
Tricida stock traded down $1.06 during trading hours on Monday, reaching $32.08. 116,442 shares of the company were exchanged, compared to its average volume of 289,749. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -6.91 and a beta of 0.90. The company has a current ratio of 8.30, a quick ratio of 8.30 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $33.92. Tricida has a 12 month low of $19.43 and a 12 month high of $42.80.
In related news, SVP Dawn Parsell Otto sold 15,407 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The stock was sold at an average price of $37.04, for a total value of $570,675.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert J. Alpern sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $37.05, for a total value of $111,150.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 90,126 shares of company stock worth $3,218,846. Company insiders own 66.70% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Tricida by 49.1% during the second quarter. Vanguard Group Inc. now owns 2,246,304 shares of the company’s stock worth $88,639,000 after acquiring an additional 740,141 shares during the last quarter. Vivo Capital LLC lifted its holdings in Tricida by 82.4% in the 2nd quarter. Vivo Capital LLC now owns 1,424,525 shares of the company’s stock valued at $56,212,000 after acquiring an additional 643,340 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings 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 during the last quarter. BlackRock Inc. lifted its holdings in Tricida by 23.4% in the 2nd quarter. BlackRock Inc. now owns 2,356,417 shares of the company’s stock valued at $92,984,000 after acquiring an additional 447,562 shares during the last quarter. Finally, Global Endowment Management LP acquired a new stake in Tricida in the 2nd quarter valued at about $13,149,000. 63.12% of the stock is currently owned by institutional investors and hedge funds.
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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