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

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

A number of other equities analysts have also recently commented on TOCA. B. Riley cut Tocagen from a buy rating to a neutral rating in a report on Thursday, September 12th. Citigroup cut Tocagen from a buy rating to a neutral rating and decreased their target price for the stock from $20.00 to $1.00 in a report on Friday, September 13th. LADENBURG THALM/SH SH cut Tocagen from a buy rating to a neutral rating in a report on Thursday, September 12th. Chardan Capital cut Tocagen from a buy rating to a neutral rating and set a $1.00 target price on the stock. in a report on Friday, September 13th. Finally, Cantor Fitzgerald cut Tocagen from an overweight rating to a neutral rating in a report on Thursday, September 12th. Ten research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $10.62.

TOCA stock opened at $0.89 on Friday. Tocagen has a 1 year low of $0.73 and a 1 year high of $15.80. The stock’s fifty day moving average price is $3.90 and its 200-day moving average price is $7.03. The company has a market cap of $24.61 million, a P/E ratio of -0.36 and a beta of 4.08. The company has a debt-to-equity ratio of 0.86, a current ratio of 4.21 and a quick ratio of 4.21.

Tocagen (NASDAQ:TOCA) last announced its earnings results on Thursday, August 8th. The company reported ($0.72) EPS for the quarter, topping the Zacks’ consensus estimate 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 company had revenue of $0.01 million for the quarter, compared to analysts’ expectations of $0.50 million. As a group, analysts expect that Tocagen will post -2.69 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers raised its holdings in Tocagen by 9.4% during the first quarter. Rhumbline Advisers now owns 25,491 shares of the company’s stock valued at $277,000 after acquiring an additional 2,188 shares during the period. Bank of America Corp DE raised its holdings in 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 acquiring an additional 3,240 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Tocagen by 8.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 50,940 shares of the company’s stock valued at $341,000 after acquiring an additional 3,767 shares during the period. BNP Paribas Arbitrage SA raised its holdings in 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 acquiring an additional 4,341 shares during the period. Finally, Dowling & Yahnke LLC raised its holdings in 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 acquiring an additional 5,000 shares during the period. 35.38% 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.

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