Zacks Investment Research Downgrades Tocagen Inc (TOCA) to Sell

Tocagen Inc (NASDAQ:TOCA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

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. “

Separately, Stifel Nicolaus reissued a “buy” rating and issued a $24.00 price target on shares of Tocagen in a report on Tuesday, July 25th.

Shares of Tocagen (NASDAQ TOCA) traded down $0.06 during trading on Tuesday, reaching $10.31. 82,500 shares of the company’s stock were exchanged, compared to its average volume of 145,080. Tocagen has a 1-year low of $8.60 and a 1-year high of $17.95. The company has a debt-to-equity ratio of 0.07, a quick ratio of 6.03 and a current ratio of 6.03.

Tocagen (NASDAQ:TOCA) last announced its quarterly earnings results on Wednesday, November 8th. The company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.02). The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.01 million. research analysts expect that Tocagen will post -2.88 earnings per share for the current fiscal year.

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Several large investors have recently bought and sold shares of the company. EcoR1 Capital LLC purchased a new stake in shares of Tocagen in the 2nd quarter worth about $18,074,000. FMR LLC purchased a new stake in shares of Tocagen in the 2nd quarter worth about $9,624,000. JPMorgan Chase & Co. lifted its position in shares of Tocagen by 52.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 630,375 shares of the company’s stock worth $7,886,000 after purchasing an additional 218,100 shares during the period. Vanguard Group Inc. purchased a new stake in shares of Tocagen in the 2nd quarter worth about $5,036,000. Finally, Nicholas Investment Partners LP purchased a new stake in shares of Tocagen in the 2nd quarter worth about $228,000. 37.88% of the stock is owned by hedge funds and other institutional investors.

Tocagen Company Profile

Tocagen Inc (Tocagen) is a clinical-stage, cancer-selective gene therapy company. The Company is focused on developing product candidates designed to activate a patient’s immune system against their own cancer. Its cancer-selective gene therapy platform is built on retroviral replicating vectors (RRVs), which are designed to selectively deliver therapeutic genes into the deoxyribonucleic acid (DNA) of cancer cells.

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