Zacks Investment Research upgraded shares of Trovagene Inc. (NASDAQ:TROV) from a hold rating to a buy rating in a research report released on Wednesday morning. The firm currently has $5.25 target price on the stock.
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 analysts have also issued research reports about the company. Maxim Group boosted their price target on Trovagene from $9.00 to $12.00 and gave the company a buy rating in a report on Friday, August 5th. Cantor Fitzgerald upgraded Trovagene from a hold rating to a buy rating and boosted their price target for the company from $5.00 to $7.00 in a report on Monday, August 8th. Finally, Piper Jaffray Cos. set a $4.00 price target on Trovagene and gave the company a hold rating in a report on Friday, August 5th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Trovagene presently has an average rating of Hold and an average target price of $7.04.
Trovagene (NASDAQ:TROV) opened at 4.63 on Wednesday. The company’s market capitalization is $139.58 million. Trovagene has a 12 month low of $2.85 and a 12 month high of $7.18. The stock’s 50 day moving average price is $5.11 and its 200 day moving average price is $4.96.
Trovagene (NASDAQ:TROV) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.31) by $0.03. Trovagene had a negative net margin of 8,495.00% and a negative return on equity of 80.13%. Equities research analysts anticipate that Trovagene will post ($1.34) earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of TROV. First Heartland Consultants Inc. acquired a new position in shares of Trovagene during the second quarter worth about $103,000. Rhumbline Advisers increased its position in shares of Trovagene by 39.3% in the second quarter. Rhumbline Advisers now owns 39,171 shares of the company’s stock worth $177,000 after buying an additional 11,044 shares during the last quarter. Princeton Capital Management Inc. acquired a new position in shares of Trovagene during the second quarter worth about $314,000. BlackRock Investment Management LLC increased its position in shares of Trovagene by 5.6% in the second quarter. BlackRock Investment Management LLC now owns 113,232 shares of the company’s stock worth $513,000 after buying an additional 5,964 shares during the last quarter. Finally, Advisor Group Inc. acquired a new position in shares of Trovagene during the second quarter worth about $520,000. 31.06% of the stock is currently owned by institutional investors and hedge funds.
Trovagene Company Profile
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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