Brokerages Set Tocagen Inc (NASDAQ:TOCA) Target Price at $14.29

Tocagen Inc (NASDAQ:TOCA) has been assigned a consensus rating of “Buy” from the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $16.00.

Several brokerages recently issued reports on TOCA. Chardan Capital reissued a “buy” rating and set a $10.00 target price on shares of Tocagen in a report on Wednesday, May 22nd. Citigroup began coverage on shares of Tocagen in a report on Thursday, May 30th. They set a “buy” rating for the company. Zacks Investment Research cut shares of Tocagen from a “buy” rating to a “hold” rating in a report on Wednesday. HC Wainwright reissued a “buy” rating on shares of Tocagen in a report on Friday, August 9th. Finally, ValuEngine raised shares of Tocagen from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.

Shares of Tocagen stock traded up $0.16 during trading on Wednesday, hitting $3.16. 233,291 shares of the company’s stock were exchanged, compared to its average volume of 234,643. The company has a current ratio of 4.21, a quick ratio of 4.21 and a debt-to-equity ratio of 0.86. The business has a 50-day simple moving average of $4.56 and a 200-day simple moving average of $7.46. Tocagen has a 52-week low of $2.90 and a 52-week high of $15.80.

Tocagen (NASDAQ:TOCA) last issued its earnings results on Thursday, August 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.76) by $0.04. Tocagen had a negative net margin of 300.42% and a negative return on equity of 115.81%. The firm had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.50 million. Equities research analysts predict that Tocagen will post -2.67 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in TOCA. Bank of America Corp DE grew its position in Tocagen by 28.6% during the fourth quarter. Bank of America Corp DE now owns 14,584 shares of the company’s stock valued at $120,000 after buying an additional 3,240 shares during the period. Creative Planning acquired a new stake in Tocagen during the first quarter valued at $117,000. BNP Paribas Arbitrage SA grew its position in Tocagen by 72,350.0% during the first quarter. BNP Paribas Arbitrage SA now owns 4,347 shares of the company’s stock valued at $47,000 after buying an additional 4,341 shares during the period. Alps Advisors Inc. grew its position in Tocagen by 20.2% during the first quarter. Alps Advisors Inc. now owns 55,440 shares of the company’s stock valued at $603,000 after buying an additional 9,333 shares during the period. Finally, Algert Global LLC acquired a new stake in Tocagen during the first quarter valued at $213,000. Institutional investors own 34.60% 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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Analyst Recommendations for Tocagen (NASDAQ:TOCA)

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