Tocagen (NASDAQ:TOCA) Rating Increased to Buy at ValuEngine

Tocagen (NASDAQ:TOCA) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday, ValuEngine reports.

Several other brokerages have also issued reports on TOCA. Citigroup began coverage on Tocagen in a report on Thursday, May 30th. They set a “buy” rating for the company. Svb Leerink began coverage on shares of Tocagen in a research report on Monday, April 15th. They set a “market perform” rating and a $11.00 target price on the stock. HC Wainwright reissued a “buy” rating and set a $14.50 target price on shares of Tocagen in a research report on Thursday, May 9th. Chardan Capital reissued a “buy” rating and set a $10.00 target price on shares of Tocagen in a research report on Wednesday, May 22nd. Finally, Leerink Swann set a $5.00 target price on shares of Tocagen and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Tocagen currently has a consensus rating of “Buy” and an average price target of $16.08.

Shares of NASDAQ:TOCA traded up $0.06 during midday trading on Thursday, hitting $5.22. 205,556 shares of the stock were exchanged, compared to its average volume of 143,415. The company has a quick ratio of 5.05, a current ratio of 5.05 and a debt-to-equity ratio of 0.75. Tocagen has a 52-week low of $4.13 and a 52-week high of $15.80. The stock’s fifty day moving average is $5.89. The company has a market cap of $126.52 million, a P/E ratio of -2.14 and a beta of 3.90.

Tocagen (NASDAQ:TOCA) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.75) by $0.01. Tocagen had a negative return on equity of 108.08% and a negative net margin of 294.74%. The business had revenue of $0.01 million during the quarter, compared to analyst estimates of $2.01 million. On average, analysts anticipate that Tocagen will post -2.94 EPS for the current fiscal year.

In other Tocagen news, Director Faheem Hasnain bought 43,000 shares of the stock in a transaction on Thursday, May 30th. The shares were purchased 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 acquired 53,000 shares of company stock worth $244,880 over the last three months. Company insiders own 10.90% of the company’s stock.

Large investors have recently modified their holdings of the company. Rhumbline Advisers grew its position in shares of Tocagen by 9.4% in the first quarter. Rhumbline Advisers now owns 25,491 shares of the company’s stock valued at $277,000 after purchasing an additional 2,188 shares during the last quarter. Stifel Financial Corp grew its position in shares of Tocagen by 34.0% in the fourth quarter. Stifel Financial Corp now owns 26,392 shares of the company’s stock valued at $215,000 after purchasing an additional 6,698 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Tocagen in the fourth quarter valued at about $295,000. Bank of New York Mellon Corp grew its position 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 valued at $468,000 after purchasing an additional 4,093 shares during the last quarter. Finally, Sphera Funds Management LTD. acquired a new stake in shares of Tocagen in the first quarter valued at about $1,304,000. 34.90% of the stock is currently owned by institutional investors.

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.

Further Reading: Straddles

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Analyst Recommendations for Tocagen (NASDAQ:TOCA)

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