In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Buy rating on Tocagen Inc (TOCA), with a price target of $14.50. The company’s shares closed on Friday at $13.08.
Ramakanth commented:
“We maintain our Buy rating of Tocagen and our 12-month price target of $14.50 per diluted share. We derive our price target based on a risk-adjusted NPV analysis of projected Toca 511 + Toca FC revenues through 2030 assuming a 12% discount rate and 2% terminal growth rate.”
According to TipRanks.com, Ramakanth is a 2-star analyst with an average return of 0.7% and a 34.4% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Diffusion Pharmaceuticals Inc, IntelGenx Technologies, and Trillium Therapeutics.
Tocagen Inc has an analyst consensus of Strong Buy, with a price target consensus of $22.17.
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The company has a one-year high of $15.80 and a one-year low of $7.52. Currently, Tocagen Inc has an average volume of 268.3K.
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Tocagen, Inc. is a clinical-stage, cancer-selective gene therapy compan. It focuses on the development of product candidates designed to activate a patient’s immune system against their own cancer from within. It is in the business of discovery, development, and commercialization of products for the treatment of cancer.
