ValuEngine Upgrades Tocagen (TOCA) to “Buy”

ValuEngine upgraded shares of Tocagen (NASDAQ:TOCA) from a hold rating to a buy rating in a report published on Friday.

Several other research firms also recently issued reports on TOCA. BidaskClub upgraded Tocagen from a hold rating to a buy rating in a research note on Saturday, September 22nd. B. Riley boosted their price target on Tocagen from $15.00 to $22.00 and gave the company 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 issued a buy rating and a $27.00 price target for the company. Zacks Investment Research downgraded Tocagen from a hold rating to a sell rating in a research report on Thursday, August 16th. Finally, Chardan Capital began coverage on Tocagen in a research report on Thursday, August 30th. They set a buy rating and a $30.00 target price for the company. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $20.75.

TOCA traded up $0.33 during trading on Friday, hitting $11.64. The stock had a trading volume of 98,658 shares, compared to its average volume of 234,029. Tocagen has a one year low of $7.52 and a one year high of $15.80. The company has a debt-to-equity ratio of 0.56, a quick ratio of 6.06 and a current ratio of 6.06.

Tocagen (NASDAQ:TOCA) last released its quarterly earnings results on Tuesday, August 7th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($0.25). The firm had revenue of $0.01 million during the quarter, compared to the consensus estimate of $2.01 million. Tocagen had a negative net margin of 130,944.75% and a negative return on equity of 77.46%. As a group, sell-side analysts anticipate that Tocagen will post -2.69 EPS for the current year.

Several large investors have recently added to or reduced their stakes in TOCA. Russell Investments Group Ltd. lifted its position in shares of Tocagen by 107.4% during the 1st quarter. Russell Investments Group Ltd. now owns 81,067 shares of the company’s stock valued at $961,000 after acquiring an additional 41,978 shares during the period. Millennium Management LLC bought a new stake in shares of Tocagen during the 1st quarter valued at $402,000. BlackRock Inc. lifted its position in shares of Tocagen by 5.8% during the 2nd quarter. BlackRock Inc. now owns 1,128,767 shares of the company’s stock valued at $10,542,000 after acquiring an additional 62,351 shares during the period. Raymond James & Associates bought a new stake in shares of Tocagen during the 2nd quarter valued at $142,000. Finally, First Republic Investment Management Inc. bought a new stake in shares of Tocagen during the 2nd quarter valued at $170,000. Hedge funds and other institutional investors own 28.14% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Tocagen (NASDAQ:TOCA)

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