Needham & Company Starts Tricida (TCDA) at Buy

Needham & Company analyst Alan Carr initiates coverage on Tricida (NASDAQ: TCDA) with a Buy rating and a price target of $50.00.

The analyst commented, "We are initiating coverage of Tricida with a BUY rating and $50 price target. Tricida is developing veverimer, a novel and differentiated drug for Chronic Kidney Disease patients with Metabolic Acidosis. Phase 3 data demonstrated a clinically and statistically significant impact on serum bicarbonate as well as quality of life measures and we expect the drug to be approved in 2H20 (Accelerated Subpart H). We expect confirmation of a benefit on renal outcomes from an ongoing Phase 3b trial in 2022-23. There are no approved drugs for Metabolic Acidosis and the only off-label options (e.g. sodium bicarbonate) are a concern for most nephrologists due to high sodium content and tolerability. We project peak U.S. sales of $1.5B in 2034."

For an analyst ratings summary and ratings history on Tricida click here. For more ratings news on Tricida click here.

Shares of Tricida closed at $37.88 yesterday.

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