H.C. Wainwright analyst Swayampakula Ramakanth downgraded Tocagen Inc (TOCA) to Hold today. The company’s shares closed last Monday at $0.90, close to its 52-week low of $0.73.
Ramakanth noted:
“We lower our rating of TOCA to and considering the limited visibility of company’s pipeline development strategy going forward, we are not comfortable to determine a specific price target. (1) clinical; (2) commercial; (3) partnership; (4) financial; and (5) intellectual property. Tocagen, Inc. September 12, 2019 H.C. WAINWRIGHT & CO.”
According to TipRanks.com, Ramakanth is ranked 0 out of 5 stars with an average return of -7.6% and a 35.0% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Zomedica Pharmaceuticals Corp, Corcept Therapeutics Inc, and IntelGenx Technologies.
Currently, the analyst consensus on Tocagen Inc is a Moderate Buy with an average price target of $5.50, which is a 632.3% upside from current levels. In a report released today, Robert W. Baird also downgraded the stock to Hold.
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The company has a one-year high of $15.80 and a one-year low of $0.73. Currently, Tocagen Inc has an average volume of 233.2K.
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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.
