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

NASDAQ TCDA traded up $1.31 during trading on Friday, reaching $29.72. 102,280 shares of the stock traded hands, compared to its average volume of 106,502. Tricida has a fifty-two week low of $21.87 and a fifty-two week high of $40.10.

A number of brokerages recently issued reports on TCDA. Zacks Investment Research cut shares of Tricida from a “buy” rating to a “hold” rating in a report on Wednesday, September 26th. Cowen began coverage on shares of Tricida in a report on Monday, July 23rd. They set an “outperform” rating and a $50.00 price objective for the company. JPMorgan Chase & Co. began coverage on shares of Tricida in a report on Monday, July 23rd. They set a “neutral” rating and a $34.00 price objective for the company. Finally, Goldman Sachs Group began coverage on shares of Tricida in a report on Monday, July 23rd. They set a “neutral” rating and a $32.00 price objective for the company.

A number of hedge funds and other institutional investors have recently modified their holdings of TCDA. Massachusetts Financial Services Co. MA acquired a new position in Tricida during the second quarter valued at approximately $6,016,000. TD Asset Management Inc. acquired a new position in shares of Tricida in the second quarter valued at approximately $574,000. Jennison Associates LLC acquired a new position in shares of Tricida in the second quarter valued at approximately $16,664,000. Dean Capital Investments Management LLC acquired a new position in shares of Tricida in the second quarter valued at approximately $690,000. Finally, BlackRock Inc. acquired a new position in shares of Tricida in the second quarter valued at approximately $9,498,000. Hedge funds and other institutional investors own 62.43% of the company’s 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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