Tocagen (NASDAQ:TOCA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
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 research analysts have also recently commented on the company. ValuEngine raised Tocagen from a “hold” rating to a “buy” rating in a research note on Friday, November 2nd. BidaskClub cut Tocagen from a “buy” rating to a “hold” rating in a research note on Friday, October 5th. B. Riley boosted their target price on Tocagen from $15.00 to $22.00 and gave the stock a “buy” rating in a research note on Thursday, September 20th. Citigroup began coverage on Tocagen in a research note on Tuesday, September 4th. They set a “buy” rating and a $27.00 target price for the company. Finally, Chardan Capital began coverage on Tocagen in a research note on Thursday, August 30th. They set a “buy” rating and a $30.00 target price for the company. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Tocagen presently has an average rating of “Buy” and a consensus target price of $20.75.
Tocagen (NASDAQ:TOCA) last released its earnings results on Thursday, November 8th. The company reported ($0.02) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.22. Tocagen had a negative return on equity of 77.46% and a negative net margin of 130,944.75%. The firm had revenue of $18.01 million during the quarter, compared to analysts’ expectations of $2.01 million. On average, research analysts anticipate that Tocagen will post -2.69 earnings per share for the current year.
Large investors have recently added to or reduced their stakes in the company. Raymond James & Associates acquired a new position in shares of Tocagen during the 2nd quarter worth about $142,000. First Republic Investment Management Inc. acquired a new position in shares of Tocagen during the 2nd quarter worth about $170,000. Beaumont Financial Partners LLC acquired a new position in shares of Tocagen during the 3rd quarter worth about $212,000. Granahan Investment Management Inc. MA boosted its position in shares of Tocagen by 16.0% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 42,438 shares of the company’s stock worth $396,000 after acquiring an additional 5,839 shares in the last quarter. Finally, Millennium Management LLC acquired a new position in shares of Tocagen during the 1st quarter worth about $402,000. 28.00% of the stock is 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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