Zacks Investment Research cut shares of Tricida (NASDAQ:TCDA) from a hold rating to a sell rating in a research note released on Wednesday morning.

According to Zacks, “Tricida, Inc. is a late-stage pharmaceutical company. It focuses on the discovery and clinical development of novel therapeutics to address renal, metabolic and cardiovascular diseases. The company’s product candidate consists of TRC101, a non-absorbed, orally-administered polymer drug designed to treat metabolic acidosis in patients with chronic kidney disease. Tricida, Inc. is based in CA, United States. “

A number of other analysts have also commented on TCDA. Cowen started coverage on Tricida in a report on Monday, July 23rd. They issued an outperform rating and a $50.00 price target on the stock. JPMorgan Chase & Co. started coverage on Tricida in a research report on Monday, July 23rd. They issued a neutral rating and a $34.00 target price on the stock. Finally, Goldman Sachs Group started coverage on Tricida in a research report on Monday, July 23rd. They issued a neutral rating and a $32.00 target price on the stock.

Shares of Tricida stock traded down $0.43 during trading on Wednesday, reaching $28.63. The stock had a trading volume of 94,043 shares, compared to its average volume of 179,046. Tricida has a 52 week low of $21.87 and a 52 week high of $40.10. The company has a debt-to-equity ratio of -0.08, a quick ratio of 2.22 and a current ratio of 2.22.

Tricida (NASDAQ:TCDA) last issued its quarterly earnings results on Wednesday, August 8th. The company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.40. Equities research analysts expect that Tricida will post -3.12 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. VHCP Management II LLC acquired a new stake in shares of Tricida in the second quarter valued at about $28,785,000. Baker BROS. Advisors LP acquired a new stake in shares of Tricida in the second quarter valued at about $47,840,000. Vivo Capital LLC acquired a new stake in shares of Tricida in the second quarter valued at about $29,652,000. TD Asset Management Inc. acquired a new stake in shares of Tricida in the second quarter valued at about $574,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Tricida in the second quarter valued at about $6,016,000. 62.42% of the stock is currently owned by institutional investors and hedge funds.

About Tricida

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: Diversification For Individual Investors

Get a free copy of the Zacks research report on Tricida (TCDA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Tricida Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tricida and related companies with MarketBeat.com's FREE daily email newsletter.