TOCAGEN INC (TOCA) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of TOCAGEN INC (NASDAQ:TOCA) from a hold rating to a sell rating in a report issued on Tuesday morning.

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. “

Other analysts have also issued reports about the company. Stifel Nicolaus assumed coverage on TOCAGEN INC in a report on Monday, May 15th. They set a buy rating and a $24.00 price objective for the company. Leerink Swann assumed coverage on TOCAGEN INC in a report on Monday, May 15th. They set a mkt perform rating and a $19.00 price objective for the company. Finally, Evercore ISI reissued an outperform rating and set a $28.00 price objective on shares of TOCAGEN INC in a report on Tuesday, May 9th.

TOCAGEN INC (NASDAQ TOCA) opened at 13.02 on Tuesday. The company’s 50-day moving average price is $11.00 and its 200 day moving average price is $13.47. The firm’s market capitalization is $212.62 million. TOCAGEN INC has a 12 month low of $9.68 and a 12 month high of $17.95.

TOCAGEN INC (NASDAQ:TOCA) last issued its quarterly earnings data on Wednesday, August 9th. The company reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.52) by $0.04. The business had revenue of $0.01 million during the quarter, compared to analysts’ expectations of $0.01 million. On average, equities research analysts predict that TOCAGEN INC will post ($2.81) earnings per share for the current year.

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Institutional investors have recently added to or reduced their stakes in the stock. EcoR1 Capital LLC acquired a new position in TOCAGEN INC during the second quarter valued at about $18,074,000. FMR LLC acquired a new position in TOCAGEN INC during the second quarter valued at about $9,624,000. Vanguard Group Inc. acquired a new position in TOCAGEN INC during the second quarter valued at about $5,036,000. JPMorgan Chase & Co. acquired a new position in TOCAGEN INC during the second quarter valued at about $4,960,000. Finally, Nicholas Investment Partners LP acquired a new position in TOCAGEN INC during the second quarter valued at about $228,000. 0.72% of the stock is owned by institutional investors.

About TOCAGEN INC

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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