Tricida hits near 9-month high as J.P. Morgan upgrades after fund raise

Tricida

16/11/2021 16:37

** Chronic kidney disease drug developer's  TCDA.O  shares
jump as much as 13.4% to hit a near 9-month high of $7.20 
    ** Brokerage J.P. Morgan upgrades rating on TCDA to
"neutral" from "underweight", sets PT of $7 after co's $42 mln
equity raise announcement on Monday; stock rose 16.3% in the
previous session  urn:newsml:reuters.com:*:nL4N2S642L
    ** Brokerage says fund raise will enable TCDA to continue
late-stage trial of its chronic kidney disease drug candidate,
Veverimer
    ** Brokerages Needham, and Cowen and Co rate TCDA "buy";
median PT of three brokerages is $13.5 - Refinitiv IBES data
    ** Session gains help stock recoup YTD losses, now up 1.4%
this year

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com;))