Trovagene Inc. (TROV) Upgraded at Zacks Investment Research
Trovagene Inc. (NASDAQ:TROV) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $5.25 price target on the stock. Zacks Investment Research’s price target points to a potential upside of 11.23% from the company’s current price.
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. “
Other research analysts also recently issued reports about the company. Cantor Fitzgerald upgraded Trovagene from a “hold” rating to a “buy” rating and boosted their target price for the stock from $5.00 to $7.00 in a research note on Monday, August 8th. Maxim Group boosted their target price on Trovagene from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, August 5th. Finally, Piper Jaffray Cos. set a $4.00 target price on Trovagene and gave the stock a “hold” rating in a research note on Friday, August 5th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $7.04.
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Trovagene (NASDAQ:TROV) traded up 1.51% on Wednesday, hitting $4.72. The stock had a trading volume of 192,270 shares. Trovagene has a 52-week low of $2.85 and a 52-week high of $7.18. The company’s market cap is $142.29 million. The company has a 50 day moving average price of $5.19 and a 200-day moving average price of $5.01.
Trovagene (NASDAQ:TROV) last announced its earnings results on Thursday, August 4th. The company reported ($0.34) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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%. On average, equities research analysts predict that Trovagene will post ($1.34) earnings per share for the current year.
Institutional investors have recently modified their holdings of the stock. Bridger Management LLC bought a new position in shares of Trovagene during the first quarter valued at about $15,301,000. 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 valued at $4,435,000 after buying an additional 30,369 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in shares of Trovagene by 6.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 660,640 shares of the company’s stock valued at $3,072,000 after buying an additional 40,100 shares during the period. State Street Corp boosted its position in shares of Trovagene by 21.3% in the first quarter. State Street Corp now owns 390,759 shares of the company’s stock valued at $1,819,000 after buying an additional 68,557 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Trovagene by 1.3% in the first quarter. Geode Capital Management LLC now owns 183,442 shares of the company’s stock valued at $853,000 after buying an additional 2,363 shares during the period. 31.06% of the stock is owned by institutional investors and hedge funds.
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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