Tocagen’s (NASDAQ:TOCA) Buy Rating Reaffirmed at HC Wainwright

Tocagen (NASDAQ:TOCA)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research note issued on Friday, August 9th, AnalystRatings.com reports.

The analysts wrote, “We maintain our Buy rating of Tocagen and our 12-month price target of $14.50 per diluted share. We derive our price target based on a risk-adjusted NPV analysis of projected Toca 511 + Toca FC revenues through 2030, assuming a 12% discount rate and a 2% terminal growth rate.””

Several other equities research analysts have also commented on the stock. Citigroup initiated coverage on shares of Tocagen in a research report on Thursday, May 30th. They set a “buy” rating on the stock. Zacks Investment Research lowered shares of Tocagen from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. Leerink Swann set a $5.00 price objective on shares of Tocagen and gave the stock a “hold” rating in a research report on Wednesday, May 22nd. Cantor Fitzgerald started coverage on shares of Tocagen in a research report on Thursday, April 25th. They issued an “overweight” rating and a $28.00 price objective on the stock. Finally, ValuEngine upgraded shares of Tocagen from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Tocagen has a consensus rating of “Buy” and a consensus price target of $15.86.

Shares of TOCA opened at $4.36 on Friday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 5.05 and a current ratio of 4.21. The stock has a market capitalization of $108.02 million, a P/E ratio of -1.79 and a beta of 3.90. The company’s fifty day moving average is $5.54 and its two-hundred day moving average is $8.19. Tocagen has a 1 year low of $4.12 and a 1 year high of $15.80.

Tocagen (NASDAQ:TOCA) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.72) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.76) by $0.04. The company had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.50 million. Tocagen had a negative net margin of 300.42% and a negative return on equity of 115.81%. Sell-side analysts predict that Tocagen will post -2.73 EPS for the current year.

In other news, Director Faheem Hasnain bought 43,000 shares of Tocagen stock in a transaction on Thursday, May 30th. The shares were bought at an average cost of $4.66 per share, for a total transaction of $200,380.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last 90 days, insiders acquired 53,000 shares of company stock worth $244,880. 10.90% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in TOCA. Sphera Funds Management LTD. purchased a new position in Tocagen in the 1st quarter valued at about $1,304,000. Rubric Capital Management LP acquired a new position in shares of Tocagen during the 1st quarter valued at about $1,176,000. BlackRock Inc. increased its stake in shares of Tocagen by 6.2% during the 4th quarter. BlackRock Inc. now owns 1,501,501 shares of the company’s stock valued at $12,327,000 after acquiring an additional 88,216 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Tocagen during the 2nd quarter valued at about $551,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Tocagen by 19.0% during the 1st quarter. JPMorgan Chase & Co. now owns 453,391 shares of the company’s stock valued at $4,929,000 after acquiring an additional 72,539 shares during the last quarter. Institutional investors own 35.06% 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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Analyst Recommendations for Tocagen (NASDAQ:TOCA)

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