ValuEngine Lowers Tocagen (TOCA) to Hold

ValuEngine cut shares of Tocagen (NASDAQ:TOCA) from a buy rating to a hold rating in a report issued on Monday morning, ValuEngine reports.

TOCA has been the subject of several other research reports. Zacks Investment Research raised Tocagen from a hold rating to a buy rating and set a $10.00 price target for the company in a research note on Tuesday, January 15th. Svb Leerink began coverage on Tocagen in a research note on Monday, April 15th. They issued a market perform rating and a $11.00 price target for the company. Robert W. Baird started coverage on Tocagen in a research note on Friday, January 18th. They issued an outperform rating and a $20.00 price target for the company. HC Wainwright reaffirmed a buy rating and set a $14.50 target price on shares of Tocagen in a research note on Thursday, May 9th. Finally, Cantor Fitzgerald started coverage on Tocagen in a research note on Thursday, April 25th. They set an overweight rating and a $28.00 target price for the company. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Tocagen currently has a consensus rating of Buy and an average target price of $18.78.

Shares of TOCA stock opened at $8.85 on Monday. The stock has a market capitalization of $212.36 million, a PE ratio of -3.63 and a beta of 3.29. 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 1-year low of $6.47 and a 1-year high of $15.80.

Tocagen (NASDAQ:TOCA) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.74) earnings per share for the quarter, beating the consensus estimate of ($0.75) by $0.01. The company had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $2.01 million. Tocagen had a negative return on equity of 108.08% and a negative net margin of 294.74%. As a group, research analysts predict that Tocagen will post -3.05 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TOCA. Bank of New York Mellon Corp grew its stake in Tocagen by 12.7% during the third quarter. Bank of New York Mellon Corp now owns 52,845 shares of the company’s stock worth $824,000 after purchasing an additional 5,938 shares during the period. BlackRock Inc. grew its stake in Tocagen by 25.2% during the third quarter. BlackRock Inc. now owns 1,413,285 shares of the company’s stock worth $22,033,000 after purchasing an additional 284,518 shares during the period. Dimensional Fund Advisors LP acquired a new stake in Tocagen in the third quarter valued at approximately $481,000. TIAA CREF Investment Management LLC grew its stake in Tocagen by 42.4% in the third quarter. TIAA CREF Investment Management LLC now owns 44,875 shares of the company’s stock valued at $700,000 after acquiring an additional 13,356 shares during the period. Finally, Vanguard Group Inc. grew its stake in Tocagen by 14.9% in the third quarter. Vanguard Group Inc. now owns 787,550 shares of the company’s stock valued at $12,278,000 after acquiring an additional 101,874 shares during the period. 36.58% of the stock is 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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Analyst Recommendations for Tocagen (NASDAQ:TOCA)

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