Tocagen Inc (NASDAQ:TOCA) Forecasted to Earn FY2019 Earnings of ($2.91) Per Share
Tocagen Inc (NASDAQ:TOCA) – Research analysts at Cantor Fitzgerald issued their FY2019 earnings per share estimates for Tocagen in a report released on Thursday, October 17th. Cantor Fitzgerald analyst V. Kumar anticipates that the company will post earnings of ($2.91) per share for the year. Cantor Fitzgerald has a “Neutral” rating on the stock. Cantor Fitzgerald also issued estimates for Tocagen’s FY2020 earnings at ($2.59) EPS.
Several other research firms also recently weighed in on TOCA. Robert W. Baird downgraded Tocagen from an “outperform” rating to a “neutral” rating in a research report on Thursday, September 12th. Citigroup downgraded Tocagen from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $20.00 to $1.00 in a research report on Friday, September 13th. ValuEngine raised Tocagen from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research raised Tocagen from a “hold” rating to a “buy” rating and set a $1.00 price target for the company in a research report on Wednesday, September 18th. Finally, Chardan Capital cut Tocagen to a “hold” rating and set a $1.00 price objective on the stock. in a report on Thursday, October 3rd. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $10.26.
Tocagen (NASDAQ:TOCA) last released its quarterly earnings data on Thursday, August 8th. The company reported ($0.72) earnings per share for the quarter, beating the consensus estimate of ($0.76) by $0.04. The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $0.50 million. Tocagen had a negative return on equity of 115.81% and a negative net margin of 300.42%.
Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC boosted its holdings in Tocagen by 151.0% in the second quarter. Acadian Asset Management LLC now owns 92,450 shares of the company’s stock valued at $618,000 after acquiring an additional 55,621 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Tocagen by 5.1% in the second quarter. JPMorgan Chase & Co. now owns 476,684 shares of the company’s stock valued at $3,074,000 after acquiring an additional 23,293 shares during the last quarter. GSA Capital Partners LLP acquired a new position in Tocagen in the second quarter valued at $551,000. Dowling & Yahnke LLC boosted its holdings in Tocagen by 41.2% in the second quarter. Dowling & Yahnke LLC now owns 17,122 shares of the company’s stock valued at $114,000 after acquiring an additional 5,000 shares during the last quarter. Finally, LPL Financial LLC acquired a new position in Tocagen in the second quarter valued at $384,000. Hedge funds and other institutional investors own 35.37% of the company’s stock.
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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