Tocagen (NASDAQ:TOCA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Friday, Zacks.com reports. The brokerage currently has a $5.75 price objective on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 0.88% from the company’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. “
Several other equities analysts have also recently weighed in on the company. Chardan Capital restated a “buy” rating and set a $10.00 price objective on shares of Tocagen in a research note on Wednesday, May 22nd. Citigroup began coverage on Tocagen in a research note on Thursday, May 30th. They set a “buy” rating on the stock. Svb Leerink began coverage on Tocagen in a research note on Monday, April 15th. They set a “market perform” rating and a $11.00 price objective on the stock. ValuEngine cut Tocagen from a “buy” rating to a “hold” rating in a research note on Monday, May 13th. Finally, Leerink Swann set a $5.00 price objective on Tocagen and gave the company a “hold” rating in a research note on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $16.33.
Shares of TOCA traded down $0.52 during trading hours on Friday, reaching $5.70. The stock had a trading volume of 1,621 shares, compared to its average volume of 638,736. Tocagen has a 12 month low of $4.13 and a 12 month high of $15.80. 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 stock has a market cap of $140.78 million, a P/E ratio of -2.34 and a beta of 3.79.
Tocagen (NASDAQ:TOCA) last issued its earnings results on Tuesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.01. Tocagen had a negative return on equity of 108.08% and a negative net margin of 294.74%. The company had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $2.01 million. On average, analysts expect that Tocagen will post -2.94 EPS for the current year.
In other Tocagen news, Director Faheem Hasnain bought 43,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was purchased at an average cost 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 through this hyperlink. Over the last ninety days, insiders have bought 53,000 shares of company stock valued at $244,880. Insiders own 10.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA increased its holdings in Tocagen by 72,350.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 4,347 shares of the company’s stock worth $47,000 after acquiring an additional 4,341 shares during the last quarter. Creative Planning purchased a new stake in Tocagen in the 1st quarter worth about $117,000. Stratos Wealth Partners LTD. increased its holdings in Tocagen by 9.0% in the 4th quarter. Stratos Wealth Partners LTD. now owns 11,449 shares of the company’s stock worth $94,000 after acquiring an additional 949 shares during the last quarter. Dowling & Yahnke LLC purchased a new stake in Tocagen in the 1st quarter worth about $132,000. Finally, American International Group Inc. increased its holdings in Tocagen by 11.7% in the 1st quarter. American International Group Inc. now owns 13,103 shares of the company’s stock worth $142,000 after acquiring an additional 1,368 shares during the last quarter. 35.09% of the stock is owned by hedge funds and other institutional investors.
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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