Market Analysts see Tricida Inc. [TCDA] gaining to $25. Time to buy?

Tricida Inc. [NASDAQ: TCDA] stock went on an upward path that rose over 5.38% on Tuesday, amounting to a one-week price decrease of less than -4.25%. The company report on November 14, 2022 that Tricida Announces Third Quarter 2022 Financial Results.


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Tricida, Inc. (Nasdaq: TCDA) announced today financial results for the three and nine months ended September 30, 2022 and provided an update on key initiatives.

Over the last 12 months, TCDA stock dropped by -98.13%. The average equity rating for TCDA stock is currently 3.30, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $8.72 million, with 58.02 million shares outstanding and 53.38 million shares in the current float. Compared to the average trading volume of 11.28M shares, TCDA stock reached a trading volume of 5431566 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on Tricida Inc. [TCDA]:

Goldman have made an estimate for Tricida Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 13, 2022. The new note on the price target was released on November 16, 2021, representing the official price target for Tricida Inc. stock. Previously, the target price had yet another raise to $8, while JP Morgan analysts kept a Underweight rating on TCDA stock. On August 25, 2020, analysts decreased their price target for TCDA shares from 25 to 10.

TCDA Stock Performance Analysis:

Tricida Inc. [TCDA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.25. With this latest performance, TCDA shares dropped by -33.99% in over the last four-week period, additionally sinking by -98.47% over the last 6 months – not to mention a drop of -98.13% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TCDA stock in for the last two-week period is set at 22.37, with the RSI for the last a single of trading hit 24.97, and the three-weeks RSI is set at 24.40 for Tricida Inc. [TCDA]. The present Moving Average for the last 50 days of trading for this stock 2.3187, while it was recorded at 0.1614 for the last single week of trading, and 8.1322 for the last 200 days.

Insight into Tricida Inc. Fundamentals:

Return on Equity for this stock declined to -323.71, with Return on Assets sitting at -67.89.

Tricida Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.90 and a Current Ratio set at 4.90.

Tricida Inc. [TCDA] Insider Position Details

There are presently around $8 million, or 86.60% of TCDA stock, in the hands of institutional investors. The top three institutional holders of TCDA stocks are: ORBIMED ADVISORS LLC with ownership of 10,280,947, which is approximately 0% of the company’s market cap and around 8.35% of the total institutional ownership; VR ADVISER, LLC, holding 9,050,064 shares of the stock with an approximate value of $1.51 million in TCDA stocks shares; and BLACKROCK INC., currently with $0.62 million in TCDA stock with ownership of nearly 37.564% of the company’s market capitalization.

Positions in Tricida Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 75 institutional holders increased their position in Tricida Inc. [NASDAQ:TCDA] by around 8,008,443 shares. Additionally, 48 investors decreased positions by around 7,147,692 shares, while 16 investors held positions by with 31,831,133 shares. The mentioned changes placed institutional holdings at 46,987,268 shares, according to the latest SEC report filing. TCDA stock had 22 new institutional investments in for a total of 2,199,127 shares, while 17 institutional investors sold positions of 3,308,791 shares during the same period.

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