Zacks: Analysts Expect Tricida Inc (NASDAQ:TCDA) to Post -$0.89 EPS

Equities analysts predict that Tricida Inc (NASDAQ:TCDA) will announce earnings per share (EPS) of ($0.89) for the current fiscal quarter, Zacks reports. Zero analysts have issued estimates for Tricida’s earnings, with the highest EPS estimate coming in at ($0.83) and the lowest estimate coming in at ($0.94). Tricida posted earnings of ($0.66) per share in the same quarter last year, which suggests a negative year-over-year growth rate of 34.8%. The company is expected to report its next earnings report after the market closes on Thursday, November 14th.

According to Zacks, analysts expect that Tricida will report full-year earnings of ($3.53) per share for the current financial year, with EPS estimates ranging from ($3.65) to ($3.40). For the next fiscal year, analysts forecast that the firm will report earnings of ($3.73) per share, with EPS estimates ranging from ($4.10) to ($3.35). Zacks’ earnings per share averages are a mean average based on a survey of research analysts that cover Tricida.

Tricida (NASDAQ:TCDA) last announced its earnings results on Thursday, August 8th. The company reported ($0.75) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.87) by $0.12.

TCDA has been the subject of a number of research analyst reports. Zacks Investment Research raised Tricida from a “sell” rating to a “hold” rating in a report on Thursday, October 10th. Needham & Company LLC set a $50.00 target price on Tricida and gave the company a “buy” rating in a report on Monday, August 12th. Cowen set a $50.00 target price on Tricida and gave the company a “buy” rating in a report on Tuesday, October 15th. Finally, ValuEngine raised Tricida from a “sell” rating to a “hold” rating in a report on Friday, October 11th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Tricida currently has a consensus rating of “Buy” and a consensus target price of $49.60.

TCDA stock traded down $0.30 on Thursday, hitting $38.98. 131,700 shares of the company’s stock were exchanged, compared to its average volume of 263,408. The stock has a market cap of $1.95 billion, a P/E ratio of -8.40 and a beta of 0.85. Tricida has a 12-month low of $19.43 and a 12-month high of $42.80. The company has a debt-to-equity ratio of 0.11, a quick ratio of 14.22 and a current ratio of 14.23. The firm has a 50 day moving average price of $34.20 and a two-hundred day moving average price of $34.43.

In other Tricida news, CEO Gerrit Klaerner sold 10,255 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $30.69, for a total transaction of $314,725.95. Also, Director Robert J. Alpern sold 1,832 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $38.98, for a total value of $71,411.36. Insiders have sold 81,926 shares of company stock valued at $2,782,523 in the last three months. Insiders own 66.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. FMR LLC grew its position in shares of Tricida by 9.7% in the first quarter. FMR LLC now owns 1,213,065 shares of the company’s stock valued at $46,849,000 after purchasing an additional 107,500 shares in the last quarter. Strs Ohio grew its position in shares of Tricida by 8.3% in the second quarter. Strs Ohio now owns 5,200 shares of the company’s stock valued at $205,000 after purchasing an additional 400 shares in the last quarter. TD Asset Management Inc. grew its position in shares of Tricida by 56.7% in the second quarter. TD Asset Management Inc. now owns 85,570 shares of the company’s stock valued at $3,377,000 after purchasing an additional 30,953 shares in the last quarter. Candriam Luxembourg S.C.A. purchased a new stake in shares of Tricida in the second quarter valued at approximately $908,000. Finally, Swiss National Bank grew its position in shares of Tricida by 37.5% in the second quarter. Swiss National Bank now owns 35,900 shares of the company’s stock valued at $1,417,000 after purchasing an additional 9,800 shares in the last quarter. 80.67% of the stock is owned by institutional investors and hedge funds.

About Tricida

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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