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

Tocagen (NASDAQ:TOCA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The brokerage currently has a $4.25 target price on the stock. Zacks Investment Research‘s price objective points to a potential upside of 382.95% from the company’s current price.

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. “

A number of other analysts have also weighed in on the company. Robert W. Baird reiterated a “neutral” rating on shares of Tocagen in a research note on Thursday. ValuEngine raised Tocagen from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Leerink Swann set a $5.00 price target on Tocagen and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. 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. Finally, Cantor Fitzgerald downgraded Tocagen from an “overweight” rating to a “neutral” rating in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $12.95.



TOCA stock traded down $3.30 during midday trading on Thursday, reaching $0.88. The company’s stock had a trading volume of 484,925 shares, compared to its average volume of 248,979. The company has a debt-to-equity ratio of 0.86, a quick ratio of 4.21 and a current ratio of 4.21. The stock has a fifty day simple moving average of $4.35 and a two-hundred day simple moving average of $7.28. Tocagen has a 1 year low of $2.90 and a 1 year high of $15.80. The firm has a market capitalization of $95.60 million, a price-to-earnings ratio of -0.37 and a beta of 4.07.

Tocagen (NASDAQ:TOCA) last released its earnings results on Thursday, August 8th. The company reported ($0.72) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.76) by $0.04. Tocagen had a negative return on equity of 115.81% and a negative net margin of 300.42%. The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $0.50 million. As a group, analysts forecast that Tocagen will post -2.67 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of TOCA. Sphera Funds Management LTD. bought a new position in shares of Tocagen during the 1st quarter worth $1,304,000. Rubric Capital Management LP bought a new position in shares of Tocagen during the 1st quarter worth $1,176,000. GSA Capital Partners LLP bought a new position in shares of Tocagen during the 2nd quarter worth $551,000. JPMorgan Chase & Co. grew its position in shares of Tocagen by 19.0% during the 1st quarter. JPMorgan Chase & Co. now owns 453,391 shares of the company’s stock worth $4,929,000 after buying an additional 72,539 shares in the last quarter. Finally, LPL Financial LLC bought a new stake in Tocagen during the second quarter valued at about $384,000. 35.43% of the stock is currently owned by institutional investors and hedge funds.

About Tocagen

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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