Tocagen (NASDAQ:TOCA) released its earnings results on Thursday. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.22, Morningstar.com reports. Tocagen had a negative net margin of 130,944.75% and a negative return on equity of 77.46%. The business had revenue of $18.01 million for the quarter, compared to analysts’ expectations of $2.01 million.
TOCA stock traded up $0.78 during midday trading on Friday, reaching $13.08. 184,495 shares of the company’s stock traded hands, compared to its average volume of 165,769. The stock has a market cap of $240.61 million, a price-to-earnings ratio of -4.92 and a beta of 2.84. The company has a quick ratio of 6.06, a current ratio of 6.06 and a debt-to-equity ratio of 0.56. Tocagen has a fifty-two week low of $7.52 and a fifty-two week high of $15.80.
A number of hedge funds have recently made changes to their positions in TOCA. BlackRock Inc. lifted its position in Tocagen by 25.2% during the third quarter. BlackRock Inc. now owns 1,413,285 shares of the company’s stock valued at $22,033,000 after buying an additional 284,518 shares in the last quarter. 683 Capital Management LLC acquired a new position in Tocagen during the second quarter valued at approximately $467,000. Russell Investments Group Ltd. lifted its position in Tocagen by 107.4% during the first quarter. Russell Investments Group Ltd. now owns 81,067 shares of the company’s stock valued at $961,000 after buying an additional 41,978 shares in the last quarter. Millennium Management LLC acquired a new position in Tocagen during the first quarter valued at approximately $402,000. Finally, First Republic Investment Management Inc. acquired a new position in Tocagen during the second quarter valued at approximately $170,000. 28.00% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the stock. ValuEngine raised shares of Tocagen from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. BidaskClub raised shares of Tocagen from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. Zacks Investment Research raised shares of Tocagen from a “sell” rating to a “hold” rating in a research report on Saturday. B. Riley raised their target price on shares of Tocagen from $15.00 to $22.00 and gave the stock a “buy” rating in a research report on Thursday, September 20th. Finally, Citigroup assumed coverage on shares of Tocagen in a research report on Tuesday, September 4th. They issued a “buy” rating and a $27.00 target price on the stock. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $20.75.
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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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