Tricida (NASDAQ:TCDA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

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 several other research reports. Goldman Sachs Group began coverage on Tricida in a research note on Monday, July 23rd. They issued a “neutral” rating and a $32.00 price target for the company. Cowen assumed coverage on Tricida in a report on Monday, July 23rd. They issued an “outperform” rating and a $50.00 price objective on the stock. Finally, JPMorgan Chase & Co. assumed coverage on Tricida in a report on Monday, July 23rd. They issued a “neutral” rating and a $34.00 price objective on the stock.

Shares of Tricida stock traded down $0.22 on Wednesday, hitting $33.42. The company’s stock had a trading volume of 1,304 shares, compared to its average volume of 282,602. 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 has a 1 year low of $21.87 and a 1 year high of $40.10.

Tricida (NASDAQ:TCDA) last announced its quarterly earnings results on Wednesday, August 8th. The company reported ($0.60) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.00) by $0.40. equities analysts expect that Tricida will post -3.12 EPS for the current fiscal year.

In other news, insider Beek Jeroen B. Van acquired 5,264 shares of the stock in a transaction that occurred on Monday, July 2nd. The shares were bought at an average cost of $19.00 per share, for a total transaction of $100,016.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sandra I. Coufal acquired 463,158 shares of the stock in a transaction that occurred on Monday, July 2nd. The stock was purchased at an average price of $19.00 per share, for a total transaction of $8,800,002.00. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 623,686 shares of company stock worth $11,850,034.

Several institutional investors have recently modified their holdings of TCDA. Massachusetts Financial Services Co. MA acquired a new position in shares of Tricida during the 2nd quarter worth approximately $6,016,000. TD Asset Management Inc. acquired a new position in shares of Tricida during the 2nd quarter worth approximately $574,000. Jennison Associates LLC acquired a new position in shares of Tricida during the 2nd quarter worth approximately $16,664,000. Dean Capital Investments Management LLC acquired a new position in shares of Tricida during the 2nd quarter worth approximately $690,000. Finally, BlackRock Inc. acquired a new position in shares of Tricida during the 2nd quarter worth approximately $9,498,000. Institutional investors and hedge funds own 62.42% of the company’s stock.

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.

Featured Story: How much money do you need to begin day trading?

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.