Tocagen (NASDAQ:TOCA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday, Zacks.com reports. The firm currently has a $5.25 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 23.24% from the stock’s previous close.
According to Zacks, “Tocagen, Inc. is a clinical-stage, cancer-selective gene therapy company which focuses on retroviral gene therapy platforms. The company’s lead product candidate consists of Toca 511 & Toca FC, initially for the treatment of recurrent high grade glioma, a disease with a significant unmet medical need. Tocagen, Inc. is based in San Diego, United States. “
A number of other research analysts also recently commented on the company. ValuEngine raised Tocagen from a “hold” rating to a “buy” rating in a report on Thursday, August 1st. Chardan Capital reaffirmed a “buy” rating and set a $10.00 target price on shares of Tocagen in a report on Wednesday, May 22nd. Cantor Fitzgerald started coverage on Tocagen in a report on Thursday, April 25th. They set an “overweight” rating and a $28.00 target price on the stock. Leerink Swann set a $5.00 price target on Tocagen and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Finally, Citigroup started coverage on Tocagen in a report on Thursday, May 30th. They issued a “buy” rating on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Tocagen presently has an average rating of “Buy” and an average target price of $15.86.
NASDAQ:TOCA traded down $0.26 during trading hours on Wednesday, reaching $4.26. 11,275 shares of the stock were exchanged, compared to its average volume of 244,906. The company has a quick ratio of 5.05, a current ratio of 5.05 and a debt-to-equity ratio of 0.75. The company’s 50 day moving average is $5.62. Tocagen has a 52 week low of $4.13 and a 52 week high of $15.80. The firm has a market cap of $109.22 million, a PE ratio of -1.75 and a beta of 3.90.
Tocagen (NASDAQ:TOCA) last released its earnings results on Thursday, August 8th. The company reported ($0.72) EPS for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.04. Tocagen had a negative return on equity of 107.89% and a negative net margin of 300.42%. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.50 million. Research analysts predict that Tocagen will post -2.94 earnings per share for the current year.
In related news, Director Faheem Hasnain purchased 43,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average price of $4.66 per share, with a total value of $200,380.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last three months, insiders purchased 53,000 shares of company stock worth $244,880. Company insiders own 10.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Tocagen by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,068,135 shares of the company’s stock valued at $7,135,000 after buying an additional 6,260 shares during the period. A.R.T. Advisors LLC acquired a new stake in shares of Tocagen during the 2nd quarter valued at $114,000. BlackRock Inc. boosted its stake in shares of Tocagen by 0.7% during the 2nd quarter. BlackRock Inc. now owns 1,672,165 shares of the company’s stock valued at $11,171,000 after buying an additional 11,152 shares during the period. Parametric Portfolio Associates LLC acquired a new stake in shares of Tocagen during the 2nd quarter valued at $75,000. Finally, IPG Investment Advisors LLC acquired a new stake in shares of Tocagen during the 2nd quarter valued at $134,000. 35.06% of the stock is currently owned by institutional investors and hedge funds.
Tocagen Inc, a clinical-stage cancer-selective gene therapy company, focuses on developing and commercializing product candidates designed to activate a patient's immune system against their cancer. Its cancer-selective gene therapy platform is built on retroviral replicating vectors (RRVs), which are designed to deliver therapeutic genes into the DNA of cancer cells.
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