Zacks Investment Research upgraded shares of Tocagen (NASDAQ:TOCA) from a hold rating to a buy rating in a research report sent to investors on Friday, Zacks.com reports. They currently have $7.25 price objective on the stock.
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. “
Other equities research analysts also recently issued research reports about the company. HC Wainwright restated a buy rating and set a $14.50 price objective on shares of Tocagen in a report on Thursday, May 9th. ValuEngine upgraded Tocagen from a hold rating to a buy rating in a report on Monday, April 29th. Chardan Capital restated a buy rating on shares of Tocagen in a report on Tuesday, April 23rd. Citigroup started coverage on Tocagen in a report on Thursday, May 30th. They set a buy rating for the company. Finally, Leerink Swann set a $5.00 price objective on Tocagen and gave the company a hold rating in a report on Wednesday, May 22nd. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of Buy and an average price target of $16.48.
Shares of TOCA stock opened at $5.86 on Friday. The company has a market capitalization of $139.36 million, a P/E ratio of -2.40 and a beta of 3.78. The business has a 50 day simple moving average of $6.61. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.05 and a current ratio of 5.05. Tocagen has a fifty-two week low of $4.13 and a fifty-two week high of $15.80.
Tocagen (NASDAQ:TOCA) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.74) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.75) by $0.01. The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $2.01 million. Tocagen had a negative return on equity of 108.08% and a negative net margin of 294.74%. On average, research analysts predict that Tocagen will post -2.94 EPS for the current year.
In related news, Director Faheem Hasnain bought 43,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were bought at an average price of $4.66 per share, with a total value of $200,380.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders have purchased 53,000 shares of company stock worth $244,880. 10.90% of the stock is owned by insiders.
Several large investors have recently made changes to their positions in TOCA. Sphera Funds Management LTD. bought a new position in Tocagen during the 1st quarter valued at approximately $1,304,000. Rubric Capital Management LP bought a new position in Tocagen during the 1st quarter valued at approximately $1,176,000. Acadian Asset Management LLC increased its position in Tocagen by 5,736.6% during the 1st quarter. Acadian Asset Management LLC now owns 36,829 shares of the company’s stock valued at $401,000 after buying an additional 36,198 shares in the last quarter. JPMorgan Chase & Co. increased its position in Tocagen by 19.0% during the 1st quarter. JPMorgan Chase & Co. now owns 453,391 shares of the company’s stock valued at $4,929,000 after buying an additional 72,539 shares in the last quarter. Finally, Beaumont Financial Partners LLC increased its position in Tocagen by 10.4% during the 1st quarter. Beaumont Financial Partners LLC now owns 14,999 shares of the company’s stock valued at $163,000 after buying an additional 1,413 shares in the last quarter. 34.88% of the stock is currently owned by 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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