Tocagen (NASDAQ:TOCA) Raised to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Tocagen (NASDAQ:TOCA) from a hold rating to a buy rating in a research note issued to investors on Friday, Zacks.com reports. They currently have $7.25 price target 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 analysts also recently issued reports about the company. HC Wainwright reiterated a buy rating and set a $14.50 target price on shares of Tocagen in a research report on Thursday, May 9th. ValuEngine upgraded Tocagen from a hold rating to a buy rating in a research report on Monday, April 29th. Chardan Capital reiterated a buy rating on shares of Tocagen in a research report on Tuesday, April 23rd. Citigroup initiated coverage on Tocagen in a research report on Thursday, May 30th. They set a buy rating on the stock. Finally, Leerink Swann set a $5.00 target price on Tocagen and gave the company a hold rating in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $16.48.
Tocagen (NASDAQ:TOCA) last released its earnings results on Tuesday, May 7th. The company reported ($0.74) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.75) by $0.01. The company had revenue of $0.01 million for 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%. Sell-side analysts anticipate that Tocagen will post -2.94 earnings per share for the current fiscal year.
In other Tocagen news, Director Faheem Hasnain purchased 43,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were acquired at an average cost of $4.66 per share, with a total value of $200,380.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have acquired 53,000 shares of company stock worth $244,880. Insiders own 10.90% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Stratos Wealth Partners LTD. raised its holdings in Tocagen by 9.0% during the fourth quarter. Stratos Wealth Partners LTD. now owns 11,449 shares of the company’s stock valued at $94,000 after acquiring an additional 949 shares during the period. Beaumont Financial Partners LLC increased its holdings in shares of Tocagen by 10.4% in the first quarter. Beaumont Financial Partners LLC now owns 14,999 shares of the company’s stock worth $163,000 after purchasing an additional 1,413 shares during the last quarter. Rhumbline Advisers increased its holdings in shares of Tocagen by 9.4% in the first quarter. Rhumbline Advisers now owns 25,491 shares of the company’s stock worth $277,000 after purchasing an additional 2,188 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Tocagen by 28.6% in 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 during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Tocagen by 7.7% in 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 during the last quarter. 34.88% of the stock is currently owned by institutional investors and hedge funds.
Tocagen Company Profile
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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