FY2016 EPS Estimates for Trovagene Inc. Boosted by Cantor Fitzgerald (TROV)
Trovagene Inc. (NASDAQ:TROV) – Equities researchers at Cantor Fitzgerald boosted their FY2016 earnings estimates for Trovagene in a research report issued to clients and investors on Tuesday. Cantor Fitzgerald analyst B. Brokmeier now forecasts that the brokerage will post earnings of ($1.39) per share for the year, up from their previous estimate of ($1.40). Cantor Fitzgerald has a “Buy” rating and a $7.00 price objective on the stock.
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 other analysts have also commented on the stock. Zacks Investment Research upgraded shares of Trovagene from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Piper Jaffray Cos. set a $4.00 price target on shares of Trovagene and gave the company a “hold” rating in a research report on Friday, August 5th. Finally, Maxim Group restated a “buy” rating and set a $9.00 price target on shares of Trovagene in a research report on Thursday. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Trovagene currently has a consensus rating of “Hold” and an average price target of $6.54.
Shares of Trovagene (NASDAQ:TROV) opened at 4.42 on Thursday. The stock’s 50 day moving average is $4.85 and its 200 day moving average is $4.92. The stock’s market capitalization is $133.25 million. Trovagene has a 12 month low of $2.85 and a 12 month high of $7.18.
Several hedge funds have recently made changes to their positions in TROV. State Street Corp raised 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 valued at $1,819,000 after buying an additional 68,557 shares during the period. Geode Capital Management LLC raised 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 valued at $853,000 after buying an additional 2,363 shares during the period. Bridger Management LLC bought a new stake in shares of Trovagene during the first quarter valued at about $15,301,000. Princeton Capital Management Inc. bought a new stake in shares of Trovagene during the second quarter valued at about $314,000. Finally, Vanguard Group Inc. raised its position in Trovagene by 3.2% in the second quarter. Vanguard Group Inc. now owns 979,014 shares of the company’s stock worth $4,435,000 after buying an additional 30,369 shares during the last quarter. Institutional investors and hedge funds own 31.06% of the company’s stock.
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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