Tocagen Inc (TOCA) Receives a Buy from Cantor Fitzgerald


Cantor Fitzgerald analyst Elemer Piros initiated coverage with a Buy rating on Tocagen Inc (TOCA) today and set a price target of $28. The company’s shares opened today at $8.56.

Piros commented:

“$28 PT EPS 1Q 2Q 3Q 4Q 2018A (0.65)A (0.81)A (0.02)A (0.96)A 2019E (0.87)E (0.90)E (0.92)E (0.78)E 2020E (0.81)E (0.81)E (0.80)E (0.58)E REV 1Q 2Q 3Q 4Q 2018A 0.0A 0.0A 18.0A 0.0A 2019E 0.0E 0.0E 0.0E 0.0E 2020E 0.0E 0.0E 0.0E 6.4E FY 2018A 2019E 2020E EPS (2.44)A (3.45)E (2.99)E (2.8)x REV 18.0A 0.0E 6.5E P/S 11.0x — 30.5x Summary: We are initiating coverage of Overweight rating and 12-month price target of $28. Tocagen focuses on cancer-specific gene therapy drugs utilizing a retroviral replicating vector (RRV) platform. 5 trial in recurrent high grade glioma (rHGG) is due in 2Q19 and 4Q19. In our view, Toca 511 & Toca FC could become an effective treatment option for these patients, where there is a significant unmet need with low survival rates.”

According to TipRanks.com, Piros ‘ ranking currently consits of no stars on a 0-5 ranking scale, with an average return of -2.1% and a 44.9% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Tocagen Inc with a $19.75 average price target.

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Based on Tocagen Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $19.6 million. In comparison, last year the company had a GAAP net loss of $12.88 million.

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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.

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