Trovagene Inc. (TROV) Earns Buy Rating from Maxim Group
Trovagene Inc. (NASDAQ:TROV)‘s stock had its “buy” rating reissued by Maxim Group in a note issued to investors on Thursday. They presently have a $9.00 price objective on the stock. Maxim Group’s price objective points to a potential upside of 103.62% from the company’s previous close.
TROV has been the subject of several 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 report on Wednesday, September 21st. Piper Jaffray Cos. set a $4.00 target price on shares of Trovagene and gave the company a “hold” rating in a report on Friday, August 5th. Finally, Cantor Fitzgerald raised shares of Trovagene from a “hold” rating to a “buy” rating and upped their target price for the company from $5.00 to $7.00 in a report on Monday, August 8th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Trovagene has an average rating of “Hold” and a consensus target price of $6.54.
Shares of Trovagene (NASDAQ:TROV) traded down 2.43% on Thursday, reaching $4.42. The company’s stock had a trading volume of 105,869 shares. Trovagene has a 1-year low of $2.85 and a 1-year high of $7.18. The company’s 50 day moving average is $4.89 and its 200-day moving average is $4.92. The stock’s market cap is $133.25 million.
Trovagene (NASDAQ:TROV) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.34) earnings per share 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%. On average, equities analysts predict that Trovagene will post ($1.34) earnings per share for the current fiscal year.
Several hedge funds have recently made changes to their positions in TROV. Bridger Management LLC purchased a new stake in shares of Trovagene during the first quarter worth about $15,301,000. Geode Capital Management LLC boosted its stake in shares of Trovagene by 1.3% in the first quarter. Geode Capital Management LLC now owns 183,442 shares of the company’s stock worth $853,000 after buying an additional 2,363 shares during the period. State Street Corp boosted its stake in shares of Trovagene by 21.3% in the first quarter. State Street Corp now owns 390,759 shares of the company’s stock worth $1,819,000 after buying an additional 68,557 shares during the period. Princeton Capital Management Inc. purchased a new stake in shares of Trovagene during the second quarter worth about $314,000. Finally, First Heartland Consultants Inc. purchased a new stake in shares of Trovagene during the second quarter worth about $103,000. 31.06% of the stock is owned by hedge funds and other institutional investors.
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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