Zacks: Tocagen Inc (TOCA) Given Average Rating of “Buy” by Brokerages

Shares of Tocagen Inc (NASDAQ:TOCA) have been given a consensus broker rating score of 2.00 (Buy) from the two brokers that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.

Analysts have set a twelve-month consensus price target of $23.67 for the company and are anticipating that the company will post ($0.52) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Tocagen an industry rank of 99 out of 265 based on the ratings given to related companies.

TOCA has been the topic of several analyst reports. Stifel Nicolaus initiated coverage on shares of Tocagen in a research note on Monday, May 8th. They issued a “buy” rating and a $24.00 target price on the stock. Leerink Swann initiated coverage on shares of Tocagen in a research note on Monday, May 8th. They issued a “market perform” rating and a $19.00 target price on the stock. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $28.00 target price on shares of Tocagen in a research note on Tuesday, May 9th.

Hedge funds and other institutional investors have recently modified their holdings of the stock. TD Asset Management Inc. bought a new position in shares of Tocagen during the second quarter worth about $158,000. Schwab Charles Investment Management Inc. bought a new position in shares of Tocagen during the second quarter worth about $165,000. Alps Advisors Inc. bought a new position in shares of Tocagen during the second quarter worth about $215,000. Bank of New York Mellon Corp bought a new position in shares of Tocagen during the second quarter worth about $281,000. Finally, Victory Capital Management Inc. bought a new position in shares of Tocagen during the second quarter worth about $837,000. 0.08% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Tocagen (NASDAQ TOCA) traded up 0.54% during trading on Tuesday, reaching $11.16. 58,059 shares of the company’s stock traded hands. Tocagen has a 52-week low of $9.68 and a 52-week high of $17.95. The company’s 50-day moving average is $11.64 and its 200 day moving average is $13.70. The company’s market cap is $221.05 million.

Tocagen (NASDAQ:TOCA) last issued its earnings results on Tuesday, May 23rd. The company reported ($4.11) EPS for the quarter, missing the consensus estimate of ($2.70) by $1.41. The company had revenue of $0.01 million for the quarter, compared to the consensus estimate of $0.01 million. Equities analysts forecast that Tocagen will post ($2.79) EPS for the current year.

Tocagen Company Profile

Tocagen Inc (Tocagen) is a clinical-stage, cancer-selective gene therapy company. The Company is focused on developing product candidates designed to activate a patient’s immune system against their own cancer. Its cancer-selective gene therapy platform is built on retroviral replicating vectors (RRVs), which are designed to selectively deliver therapeutic genes into the deoxyribonucleic acid (DNA) of cancer cells.

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