Tricida (NASDAQ:TCDA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, Zacks.com reports.

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. “

TCDA has been the subject of a number of other research reports. Needham & Company LLC began coverage on Tricida in a report on Friday, May 24th. They set a “buy” rating and a $50.00 target price for the company. Goldman Sachs Group began coverage on Tricida in a report on Wednesday, June 26th. They set a “buy” rating and a $48.00 target price for the company. Finally, Cowen reaffirmed a “buy” rating and set a $50.00 target price on shares of Tricida in a report on Thursday, August 8th.

Shares of Tricida stock traded down $1.28 on Wednesday, reaching $31.86. 3,142 shares of the stock were exchanged, compared to its average volume of 289,749. The company has a debt-to-equity ratio of 0.24, a current ratio of 8.30 and a quick ratio of 8.30. Tricida has a twelve month low of $19.43 and a twelve month high of $42.80. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of -6.81 and a beta of 0.90. The company has a 50 day simple moving average of $33.92.

Tricida (NASDAQ:TCDA) last released its earnings results on Thursday, August 8th. The company reported ($0.75) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.87) by $0.12. On average, research analysts predict that Tricida will post -3.44 earnings per share for the current fiscal year.

In related news, SVP Dawn Parsell Otto sold 5,000 shares of Tricida stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $31.19, for a total transaction of $155,950.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Claire Lockey sold 10,000 shares of Tricida stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $32.02, for a total value of $320,200.00. The disclosure for this sale can be found here. Insiders have sold 90,126 shares of company stock valued at $3,218,846 in the last ninety days. Corporate insiders own 66.70% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in TCDA. Quantamental Technologies LLC purchased a new position in Tricida during the first quarter valued at approximately $39,000. Bank of Montreal Can purchased a new position in Tricida during the second quarter valued at approximately $72,000. Marshall Wace North America L.P. raised its position in Tricida by 99.0% during the first quarter. Marshall Wace North America L.P. now owns 2,591 shares of the company’s stock valued at $100,000 after acquiring an additional 1,289 shares in the last quarter. SG Americas Securities LLC purchased a new position in Tricida during the first quarter valued at approximately $143,000. Finally, BNP Paribas Arbitrage SA increased its position in shares of Tricida by 1,586.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,030 shares of the company’s stock valued at $156,000 after buying an additional 3,791 shares in the last quarter. 63.12% of the stock is owned by hedge funds and other institutional investors.

Tricida Company Profile

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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