Tocagen Inc (NASDAQ:TOCA) Given Average Recommendation of “Buy” by Brokerages

Tocagen Inc (NASDAQ:TOCA) has been assigned an average rating of “Buy” from the twelve research firms that are currently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $15.31.

A number of analysts have weighed in on TOCA shares. HC Wainwright reissued a “buy” rating and set a $14.50 price objective on shares of Tocagen in a report on Thursday, May 9th. Cantor Fitzgerald started coverage on shares of Tocagen in a report on Thursday, April 25th. They set an “overweight” rating and a $28.00 price objective on the stock. Leerink Swann started coverage on shares of Tocagen in a report on Monday, April 15th. They set a “market perform” rating and a $10.26 price objective on the stock. ValuEngine raised shares of Tocagen from a “hold” rating to a “buy” rating in a report on Monday, April 29th. Finally, Chardan Capital reissued a “buy” rating on shares of Tocagen in a report on Tuesday, April 23rd.

In other Tocagen news, Director Faheem Hasnain bought 43,000 shares of the business’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 legal filing with the SEC, which is available through the SEC website. Insiders bought a total of 53,000 shares of company stock worth $244,880 over the last ninety days. Corporate insiders own 10.90% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in shares of Tocagen by 12.7% during the third quarter. Bank of New York Mellon Corp now owns 52,845 shares of the company’s stock valued at $824,000 after buying an additional 5,938 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Tocagen by 42.4% in the third quarter. TIAA CREF Investment Management LLC now owns 44,875 shares of the company’s stock worth $700,000 after purchasing an additional 13,356 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Tocagen by 14.9% in the third quarter. Vanguard Group Inc. now owns 787,550 shares of the company’s stock worth $12,278,000 after purchasing an additional 101,874 shares during the last quarter. Rhumbline Advisers boosted its holdings in Tocagen by 50.7% in the fourth quarter. Rhumbline Advisers now owns 23,303 shares of the company’s stock worth $191,000 after purchasing an additional 7,843 shares during the last quarter. Finally, TD Asset Management Inc. boosted its holdings in Tocagen by 42.4% in the fourth quarter. TD Asset Management Inc. now owns 33,839 shares of the company’s stock worth $278,000 after purchasing an additional 10,075 shares during the last quarter. 34.88% of the stock is currently owned by institutional investors and hedge funds.

Tocagen stock traded down $0.17 during trading on Friday, reaching $6.17. The stock had a trading volume of 2,532 shares, compared to its average volume of 402,428. Tocagen has a 52-week low of $4.13 and a 52-week high of $15.80. The firm has a 50 day moving average of $6.53. The company has a debt-to-equity ratio of 0.75, a quick ratio of 5.05 and a current ratio of 5.05. The stock has a market capitalization of $139.36 million, a PE ratio of -2.57 and a beta of 3.79.

Tocagen (NASDAQ:TOCA) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.01. Tocagen had a negative net margin of 294.74% and a negative return on equity of 108.08%. The company had revenue of $0.01 million during the quarter, compared to the consensus estimate of $2.01 million. As a group, sell-side analysts expect that Tocagen will post -2.94 EPS for the current fiscal year.

About Tocagen

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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Analyst Recommendations for Tocagen (NASDAQ:TOCA)

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