Trovagene Inc. (TROV) Stock Rating Upgraded by Zacks Investment Research
Trovagene Inc. (NASDAQ:TROV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $5.25 price target on the stock. Zacks Investment Research’s price target suggests a potential upside of 12.90% from the stock’s previous close.
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. “
A number of other brokerages have also recently commented on TROV. Maxim Group upped their price target on Trovagene from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Piper Jaffray Cos. set a $4.00 price objective on Trovagene and gave the stock a “hold” rating in a research note on Friday, August 5th. Finally, Cantor Fitzgerald raised Trovagene from a “hold” rating to a “buy” rating and upped their price objective for the stock from $5.00 to $7.00 in a research note on Monday, August 8th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $7.04.
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Trovagene (NASDAQ:TROV) opened at 4.65 on Wednesday. The stock’s market capitalization is $140.18 million. The firm has a 50-day moving average price of $5.19 and a 200-day moving average price of $5.01. Trovagene has a 52 week low of $2.85 and a 52 week high of $7.18.
Trovagene (NASDAQ:TROV) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.34) 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%. Equities research analysts predict that Trovagene will post ($1.34) EPS for the current fiscal year.
A number of institutional investors have recently made changes to their positions in the stock. First Heartland Consultants Inc. purchased a new position in shares of Trovagene during the second quarter worth approximately $103,000. Rhumbline Advisers raised 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 last quarter. Princeton Capital Management Inc. purchased a new position in shares of Trovagene during the second quarter worth approximately $314,000. BlackRock Investment Management LLC raised 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 last quarter. Finally, Advisor Group Inc. purchased a new position in shares of Trovagene during the second quarter worth approximately $520,000. 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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