Zacks Investment Research Lowers Trovagene Inc. (TROV) to Hold
Trovagene Inc. (NASDAQ:TROV) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Xenomics is a molecular diagnostic company that focuses on the development of DNA-based tests using Transrenal DNA. Xenomics’ patented technology uses safe and simple urine collection and can be applied to a broad range of applications, including prenatal testing, tumor detection and monitoring, tissue transplantation, infectious disease detection, genetic testing for forensic identity determination, drug development, and research to counter bioterrorism. “
TROV has been the topic of a number of other research reports. Maxim Group initiated coverage on shares of Trovagene in a report on Wednesday, July 6th. They issued a “buy” rating and a $12.00 price target on the stock. Piper Jaffray Cos. set a $4.00 target price on shares of Trovagene and gave the stock a “hold” rating in a research report on Friday, August 5th. Finally, Cantor Fitzgerald raised shares of Trovagene from a “hold” rating to a “buy” rating and raised their target price for the stock from $5.00 to $7.00 in a research report on Monday, August 8th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $7.13.
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Shares of Trovagene (NASDAQ:TROV) traded up 1.05% during midday trading on Tuesday, reaching $4.80. 19,960 shares of the company’s stock were exchanged. The firm has a 50-day moving average of $5.22 and a 200-day moving average of $5.03. Trovagene has a 12-month low of $2.85 and a 12-month high of $7.22. The stock’s market capitalization is $144.71 million.
Trovagene (NASDAQ:TROV) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by $0.03. Trovagene had a negative return on equity of 80.13% and a negative net margin of 8,495.00%. Analysts anticipate that Trovagene will post ($1.34) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. First Heartland Consultants Inc. acquired a new position in shares of Trovagene during the second quarter worth about $103,000. Advisor Group Inc. acquired a new position in shares of Trovagene during the second quarter worth about $520,000. Rhumbline Advisers boosted its position in shares of Trovagene by 39.3% in the second quarter. Rhumbline Advisers now owns 39,171 shares of the company’s stock worth $177,000 after buying an additional 11,044 shares during the period. BlackRock Investment Management LLC boosted its position in shares of Trovagene by 5.6% in the second quarter. BlackRock Investment Management LLC now owns 113,232 shares of the company’s stock worth $513,000 after buying an additional 5,964 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Trovagene by 3.2% in the second quarter. Vanguard Group Inc. now owns 979,014 shares of the company’s stock worth $4,435,000 after buying an additional 30,369 shares during the period. 31.06% of the stock is owned by institutional investors.
Trovagene Company Profile
Trovagene, Inc (TrovaGene) is a molecular diagnostic company. The Company focuses on the development and commercialization of a molecular diagnostic technology for use in disease detection and monitoring across a range of medical disciplines. Its primary internal focus is to leverage its cell-free molecular diagnostic platform to facilitate improvements in the field of oncology, while its external focus includes entering into license agreements or collaborations to develop its technology in areas, such as infectious disease, transplant medicine and prenatal genetics.
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