Tocagen (NASDAQ:TOCA) Raised to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Tocagen (NASDAQ:TOCA) from a hold rating to a buy rating in a research report report published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $1.00 price target on the stock.

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. “

Other equities research analysts also recently issued reports about the company. B. Riley downgraded Tocagen from a buy rating to a neutral rating in a research report on Thursday, September 12th. HC Wainwright downgraded Tocagen from a buy rating to a neutral rating and set a $3.32 price target on the stock. in a research report on Thursday, September 12th. Leerink Swann set a $5.00 price target on Tocagen and gave the company a hold rating in a research report on Wednesday, May 22nd. Chardan Capital downgraded Tocagen from a buy rating to a neutral rating and set a $1.00 price target on the stock. in a research report on Friday, September 13th. Finally, Citigroup downgraded Tocagen from a buy rating to a neutral rating and lowered their price target for the company from $20.00 to $1.00 in a research report on Friday, September 13th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $10.26.

Shares of NASDAQ:TOCA opened at $0.76 on Wednesday. The stock’s 50-day moving average is $3.64 and its 200-day moving average is $6.88. Tocagen has a 52-week low of $0.73 and a 52-week high of $15.80. The company has a quick ratio of 4.21, a current ratio of 4.21 and a debt-to-equity ratio of 0.86.

Tocagen (NASDAQ:TOCA) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.76) by $0.04. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.50 million. Tocagen had a negative return on equity of 115.81% and a negative net margin of 300.42%. On average, analysts expect that Tocagen will post -2.64 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its position in Tocagen by 9.4% during the first quarter. Rhumbline Advisers now owns 25,491 shares of the company’s stock worth $277,000 after buying an additional 2,188 shares in the last quarter. 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 worth $120,000 after buying an additional 3,240 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Tocagen by 8.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 50,940 shares of the company’s stock worth $341,000 after buying an additional 3,767 shares in the last quarter. 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 worth $47,000 after buying an additional 4,341 shares in the last quarter. Finally, Dowling & Yahnke LLC grew its position in Tocagen by 41.2% during the second quarter. Dowling & Yahnke LLC now owns 17,122 shares of the company’s stock worth $114,000 after buying an additional 5,000 shares in the last quarter. 35.38% 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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