Tocagen Inc (TOCA) Receives Consensus Recommendation of “Buy” from Analysts

Tocagen Inc (NASDAQ:TOCA) has been given an average recommendation of “Buy” by the nine brokerages that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $22.33.

A number of research firms recently commented on TOCA. Zacks Investment Research upgraded Tocagen from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Tuesday, January 22nd. Robert W. Baird began coverage on Tocagen in a report on Friday, January 18th. They issued an “outperform” rating and a $20.00 price objective on the stock. B. Riley began coverage on Tocagen in a report on Monday, December 31st. They issued a “buy” rating and a $22.00 price objective on the stock. Finally, BidaskClub upgraded Tocagen from a “hold” rating to a “buy” rating in a report on Tuesday, December 4th.

A number of large investors have recently added to or reduced their stakes in the business. Stratos Wealth Partners LTD. lifted its stake in Tocagen by 9.0% during the fourth quarter. Stratos Wealth Partners LTD. now owns 11,449 shares of the company’s stock worth $94,000 after purchasing an additional 949 shares in the last quarter. Bank of America Corp DE lifted its stake in Tocagen by 28.6% during the fourth quarter. Bank of America Corp DE now owns 14,584 shares of the company’s stock worth $120,000 after purchasing an additional 3,240 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Tocagen by 7.7% during the fourth quarter. Bank of New York Mellon Corp now owns 56,938 shares of the company’s stock worth $468,000 after purchasing an additional 4,093 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Tocagen by 162.8% during the fourth quarter. Meeder Asset Management Inc. now owns 9,961 shares of the company’s stock worth $82,000 after purchasing an additional 6,170 shares in the last quarter. Finally, Stifel Financial Corp lifted its stake in Tocagen by 34.0% during the fourth quarter. Stifel Financial Corp now owns 26,392 shares of the company’s stock worth $215,000 after purchasing an additional 6,698 shares in the last quarter. Institutional investors own 36.88% of the company’s stock.

TOCA traded up $0.28 during trading hours on Wednesday, reaching $11.02. The company’s stock had a trading volume of 133,004 shares, compared to its average volume of 200,777. Tocagen has a fifty-two week low of $6.47 and a fifty-two week high of $15.80. The stock has a market capitalization of $247.24 million, a PE ratio of -4.52 and a beta of 3.51. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.91 and a current ratio of 5.91.

Tocagen (NASDAQ:TOCA) last released its quarterly earnings data on Wednesday, February 27th. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.68) by ($0.28). Tocagen had a negative net margin of 271.43% and a negative return on equity of 92.56%. As a group, equities research analysts forecast that Tocagen will post -2.94 earnings per share for the current fiscal year.

About Tocagen

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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Analyst Recommendations for Tocagen (NASDAQ:TOCA)

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