Tocagen (NASDAQ:TOCA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The firm currently has a $15.00 target price on the stock. Zacks Investment Research‘s price target would indicate a potential upside of 17.55% from the stock’s previous close.
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. “
Several other research analysts have also weighed in on the company. BidaskClub raised Tocagen from a “sell” rating to a “hold” rating in a research report on Friday, March 9th. ValuEngine raised Tocagen from a “strong sell” rating to a “sell” rating in a research report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Tocagen presently has an average rating of “Hold” and a consensus target price of $21.50.
Hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund acquired a new position in Tocagen in the 2nd quarter worth about $108,000. Goldman Sachs Group Inc. acquired a new position in Tocagen in the 4th quarter worth about $122,000. American International Group Inc. increased its position in Tocagen by 112.9% in the 4th quarter. American International Group Inc. now owns 11,995 shares of the company’s stock worth $123,000 after purchasing an additional 6,362 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Tocagen by 2,075.6% in the 4th quarter. The Manufacturers Life Insurance Company now owns 15,099 shares of the company’s stock worth $155,000 after purchasing an additional 14,405 shares during the last quarter. Finally, Dowling & Yahnke LLC acquired a new position in Tocagen in the 4th quarter worth about $169,000. 32.96% of the stock is currently owned by institutional investors.
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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