Zacks Investment Research Lowers Tocagen (NASDAQ:TOCA) to Hold

Zacks Investment Research downgraded shares of Tocagen (NASDAQ:TOCA) from a buy rating to a hold rating in a report issued on Saturday, Zacks.com reports.

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 research analysts have also issued research reports about the company. B. Riley lowered Tocagen from a buy rating to a neutral rating in a research report on Thursday, September 12th. HC Wainwright lowered Tocagen from a buy rating to a neutral rating and set a $3.32 target price for the company. in a research report on Thursday, September 12th. Robert W. Baird lowered Tocagen from an outperform rating to a neutral rating in a research report on Thursday, September 12th. Chardan Capital lowered Tocagen from a buy rating to a neutral rating and set a $1.00 target price for the company. in a research report on Friday, September 13th. Finally, Cantor Fitzgerald lowered Tocagen from an overweight rating to a neutral rating in a research report on Thursday, September 12th. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Tocagen presently has an average rating of Hold and an average target price of $10.62.

TOCA opened at $0.89 on Friday. The firm has a market cap of $24.61 million, a P/E ratio of -0.36 and a beta of 4.08. Tocagen has a 12 month low of $0.73 and a 12 month high of $15.80. 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 stock has a 50-day moving average of $3.90 and a 200 day moving average of $7.03.

Tocagen (NASDAQ:TOCA) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.72) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.76) by $0.04. The company had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.50 million. Tocagen had a negative return on equity of 115.81% and a negative net margin of 300.42%. On average, research analysts forecast that Tocagen will post -2.69 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in TOCA. BNP Paribas Arbitrage SA boosted its position in shares of 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. Parametric Portfolio Associates LLC purchased a new position in shares of Tocagen during the second quarter valued at approximately $75,000. Dowling & Yahnke LLC boosted its position in shares of Tocagen by 41.2% during the second quarter. Dowling & Yahnke LLC now owns 17,122 shares of the company’s stock valued at $114,000 after buying an additional 5,000 shares during the period. A.R.T. Advisors LLC purchased a new position in shares of Tocagen during the second quarter valued at approximately $114,000. Finally, Bank of America Corp DE boosted its position in shares of 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. Institutional investors and hedge funds own 35.38% 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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