Tricida (TCDA) Issues Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Tricida (NASDAQ:TCDA) posted its quarterly earnings results on Thursday. The company reported ($0.65) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.84) by $0.19, Fidelity Earnings reports.

TCDA traded up $1.31 during midday trading on Friday, reaching $29.72. 102,280 shares of the company were exchanged, compared to its average volume of 106,502. Tricida has a one year low of $21.87 and a one year high of $40.10.

Institutional investors and hedge funds have recently modified their holdings of the business. VHCP Management II LLC bought a new position in Tricida during the second quarter worth about $28,785,000. Baker BROS. Advisors LP bought a new position in Tricida during the second quarter worth about $47,840,000. Vivo Capital LLC bought a new position in Tricida during the second quarter worth about $29,652,000. TD Asset Management Inc. bought a new position in Tricida during the second quarter worth about $574,000. Finally, Janus Henderson Group PLC bought a new position in Tricida during the second quarter worth about $299,000. Hedge funds and other institutional investors own 62.43% of the company’s stock.

TCDA has been the topic of several recent research reports. Zacks Investment Research cut Tricida from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Goldman Sachs Group began coverage on Tricida in a report on Monday, July 23rd. They issued a “neutral” rating and a $32.00 price target on the stock. JPMorgan Chase & Co. began coverage on Tricida in a report on Monday, July 23rd. They set a “neutral” rating and a $34.00 target price on the stock. Finally, Cowen began coverage on Tricida in a report on Monday, July 23rd. They set an “outperform” rating and a $50.00 target price on the 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.

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