Tocagen (NASDAQ:TOCA) Downgraded by Zacks Investment Research
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 several other reports. Svb Leerink initiated coverage on shares of Tocagen in a research note on Monday, April 15th. They set a market perform rating and a $11.00 price objective on the stock. ValuEngine cut shares of Tocagen from a buy rating to a hold rating in a research note on Monday, May 13th. HC Wainwright reaffirmed a buy rating and set a $14.50 price objective on shares of Tocagen in a research note on Thursday, May 9th. Citigroup initiated coverage on shares of Tocagen in a research note on Thursday, May 30th. They set a buy rating on the stock. Finally, Chardan Capital set a $25.00 price objective on shares of Tocagen and gave the stock a buy rating in a research note on Tuesday, May 14th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $16.30.
Tocagen (NASDAQ:TOCA) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.74) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.75) by $0.01. The firm had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $2.01 million. Tocagen had a negative net margin of 294.74% and a negative return on equity of 108.08%. As a group, equities analysts anticipate that Tocagen will post -2.94 EPS for the current year.
In related news, Director Faheem Hasnain purchased 43,000 shares of the firm’s stock in a transaction dated 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have bought 53,000 shares of company stock worth $244,880 over the last three months. 10.90% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Tocagen by 10.6% during the first quarter. BlackRock Inc. now owns 1,661,013 shares of the company’s stock valued at $18,055,000 after purchasing an additional 159,512 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Tocagen by 14.9% during the third quarter. Vanguard Group Inc. now owns 787,550 shares of the company’s stock valued at $12,278,000 after purchasing an additional 101,874 shares during the last quarter. Foresite Capital Management III LLC grew its stake in shares of Tocagen by 347.8% during the fourth quarter. Foresite Capital Management III LLC now owns 665,219 shares of the company’s stock valued at $5,461,000 after purchasing an additional 516,667 shares during the last quarter. Citigroup Inc. boosted its stake in Tocagen by 1,917.8% in the fourth quarter. Citigroup Inc. now owns 457,246 shares of the company’s stock valued at $3,754,000 after acquiring an additional 434,585 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Tocagen by 19.0% in the first quarter. JPMorgan Chase & Co. now owns 453,391 shares of the company’s stock valued at $4,929,000 after acquiring an additional 72,539 shares during the last quarter. 35.09% 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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