Zacks Investment Research upgraded shares of Tocagen (NASDAQ:TOCA) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. Zacks Investment Research currently has $1.00 price objective on the stock.

According to Zacks, Tocagen, Inc. is a clinical-stage, cancer-selective gene therapy company which focuses on retroviral gene therapy platforms. The companys 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.

TOCA has been the subject of a number of other reports. ValuEngine upgraded 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. Cantor Fitzgerald downgraded Tocagen from an overweight rating to a neutral rating in a research report on Thursday, September 12th. Robert W. Baird downgraded Tocagen from an outperform rating to a neutral rating in a research report on Thursday, September 12th. Finally, LADENBURG THALM/SH SH downgraded Tocagen from a buy rating to a neutral rating in a research report on Thursday, September 12th. Nine research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $10.26.

Tocagen (NASDAQ:TOCA) last posted its earnings results on Thursday, August 8th. The company reported ($0.72) earnings per share for the quarter, beating analysts consensus estimates of ($0.76) by $0.04. Tocagen had a negative net margin of 300.42% and a negative return on equity of 115.81%. The firm had revenue of $0.01 million during the quarter, compared to analyst estimates of $0.50 million. As a group, sell-side analysts expect that Tocagen will post -2.64 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in TOCA. JPMorgan Chase & Co. raised its holdings in shares of Tocagen by 5.1% in the second quarter. JPMorgan Chase & Co. now owns 476,684 shares of the companys stock valued at $3,074,000 after acquiring an additional 23,293 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Tocagen by 151.0% during the second quarter. Acadian Asset Management LLC now owns 92,450 shares of the companys stock worth $618,000 after acquiring an additional 55,621 shares during the last quarter. Rhumbline Advisers grew its stake in shares of Tocagen by 9.4% during the first quarter. Rhumbline Advisers now owns 25,491 shares of the companys stock worth $277,000 after acquiring an additional 2,188 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Tocagen during the second quarter worth about $551,000. Finally, Sphera Funds Management LTD. purchased a new stake in shares of Tocagen during the first quarter worth about $1,304,000. Institutional investors and hedge funds own 35.38% of the companys stock.

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.

See Also: Momentum Indicators

Get a free copy of the Zacks research report on Tocagen (TOCA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Tocagen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tocagen and related companies with MarketBeat.com's FREE daily email newsletter.

The rest is here:
Tocagen (NASDAQ:TOCA) Upgraded to Buy by Zacks Investment Research - Mayfield Recorder

Comments are closed.