B. Riley Lowers Tocagen (NASDAQ:TOCA) to Neutral

B. Riley cut shares of Tocagen (NASDAQ:TOCA) from a buy rating to a neutral rating in a report issued on Thursday morning, The Fly reports.

A number of other brokerages also recently issued reports on TOCA. Robert W. Baird downgraded shares of Tocagen from an outperform rating to a neutral rating in a report on Thursday. Chardan Capital reaffirmed a buy rating and set a $10.00 price target on shares of Tocagen in a report on Wednesday, May 22nd. Leerink Swann set a $5.00 price objective on shares of Tocagen and gave the stock a hold rating in a report on Wednesday, May 22nd. Cantor Fitzgerald downgraded shares of Tocagen from an overweight rating to a neutral rating in a report on Thursday. Finally, Zacks Investment Research raised shares of Tocagen from a hold rating to a buy rating and set a $4.25 price objective on the stock in a report on Thursday. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Tocagen has an average rating of Hold and an average price target of $12.95.

Shares of NASDAQ TOCA traded up $0.11 during trading on Thursday, reaching $1.04. 2,658,665 shares of the company traded hands, compared to its average volume of 256,770. The firm has a 50 day simple moving average of $4.35 and a 200-day simple moving average of $7.28. The company has a quick ratio of 4.21, a current ratio of 4.21 and a debt-to-equity ratio of 0.86. The stock has a market capitalization of $89.61 million, a PE ratio of -0.43 and a beta of 4.07. Tocagen has a 52-week low of $0.73 and a 52-week high of $15.80.



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

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in shares of Tocagen by 9.4% in 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 during the last quarter. Bank of America Corp DE boosted its holdings in shares of Tocagen by 28.6% in 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 during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Tocagen by 8.0% in 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 during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Tocagen by 72,350.0% in 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 during the last quarter. Finally, Dowling & Yahnke LLC boosted its holdings in shares of Tocagen by 41.2% in 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 during the last quarter. 35.43% of the stock is currently owned by institutional investors.

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.

Further Reading: Return on Investment (ROI)

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