Research Analysts Set Expectations for Trovagene Inc.’s FY2016 Earnings (TROV)
Trovagene Inc. (NASDAQ:TROV) – Investment analysts at Cantor Fitzgerald raised their FY2016 earnings per share estimates for shares of Trovagene in a research report issued to clients and investors on Tuesday. Cantor Fitzgerald analyst B. Brokmeier now forecasts that the firm will post earnings per share of ($1.39) for the year, up from their prior forecast of ($1.40). Cantor Fitzgerald has a “Buy” rating and a $7.00 price target on the stock.
TROV has been the subject of a number of other reports. Zacks Investment Research raised shares of Trovagene from a “hold” rating to a “buy” rating and set a $5.25 price objective for the company in a research note on Wednesday, September 21st. Piper Jaffray Cos. set a $4.00 price objective on shares of Trovagene and gave the stock a “hold” rating in a research note on Friday, August 5th. Finally, Maxim Group assumed coverage on shares of Trovagene in a research note on Wednesday, July 6th. They issued a “buy” rating and a $12.00 price objective for the company. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Trovagene presently has a consensus rating of “Hold” and an average price target of $7.04.
Shares of Trovagene (NASDAQ:TROV) traded down 0.88% during mid-day trading on Thursday, reaching $4.49. 47,100 shares of the company traded hands. The firm’s market capitalization is $135.36 million. The firm has a 50-day moving average price of $4.89 and a 200 day moving average price of $4.92. Trovagene has a 52 week low of $2.85 and a 52 week high of $7.18.
Trovagene (NASDAQ:TROV) last announced its earnings results on Thursday, August 4th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate 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%.
Several institutional investors have recently made changes to their positions in the stock. First Heartland Consultants Inc. bought a new position in shares of Trovagene during the second quarter valued at approximately $103,000. Rhumbline Advisers raised 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 valued at $177,000 after buying an additional 11,044 shares during the last quarter. Princeton Capital Management Inc. bought a new position in shares of Trovagene during the second quarter valued at approximately $314,000. BlackRock Investment Management LLC raised 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 valued at $513,000 after buying an additional 5,964 shares during the last quarter. Finally, Advisor Group Inc. bought a new position in shares of Trovagene during the second quarter valued at approximately $520,000. 31.06% of the stock is owned by hedge funds and other institutional investors.
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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