Zacks Investment Research downgraded shares of Tocagen (NASDAQ:TOCA) from a buy rating to a hold rating in a report published on Wednesday.
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. “
TOCA has been the topic of a number of other reports. B. Riley started coverage on shares of Tocagen in a research report on Monday, December 31st. They set a buy rating and a $22.00 price target on the stock. BidaskClub upgraded shares of Tocagen from a hold rating to a buy rating in a research report on Tuesday, December 4th. Robert W. Baird started coverage on shares of Tocagen in a research report on Friday, January 18th. They set an outperform rating and a $20.00 price target on the stock. ValuEngine upgraded shares of Tocagen from a hold rating to a buy rating in a research report on Friday, November 2nd. Finally, HC Wainwright set a $15.00 price target on shares of Tocagen and gave the stock a buy rating in a research report on Monday, November 12th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $20.86.
Shares of TOCA stock traded up $0.08 during midday trading on Wednesday, reaching $11.00. 212,201 shares of the company were exchanged, compared to its average volume of 139,749. Tocagen has a 12 month low of $6.47 and a 12 month high of $15.80. The company has a market capitalization of $217.89 million, a price-to-earnings ratio of -4.51 and a beta of 3.61. The company has a current ratio of 5.83, a quick ratio of 5.83 and a debt-to-equity ratio of 0.55.
Tocagen (NASDAQ:TOCA) last released its quarterly earnings results 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 return on equity of 71.61% and a negative net margin of 222.81%. On average, equities research analysts predict that Tocagen will post -2.65 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meeder Asset Management Inc. raised its holdings in shares of Tocagen by 162.8% in the 4th 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. Stratos Wealth Partners LTD. raised its holdings in shares of Tocagen by 9.0% in the 4th 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. Caption Management LLC bought a new stake in shares of Tocagen in the 4th quarter worth approximately $98,000. Bank of America Corp DE raised its holdings in shares of Tocagen by 28.6% in the 4th 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. Finally, Raymond James & Associates bought a new stake in shares of Tocagen in the 2nd quarter worth approximately $142,000. Institutional investors and hedge funds own 33.04% 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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