07/30/15 - 11:59 AM EDT
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Thursday, shares of TrovaGene Inc (TROV) entered into oversold territory, hitting an RSI reading of 29.4, after changing hands as low as $7.62 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 52.5. A bullish investor could look at TROV's 29.4 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side
TrovaGene (NASDAQ:TROV) was upgraded by Zacks from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, AnalystRatings.Net reports.
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. “
A number of other firms have also recently commented on TROV. Analysts at Maxim Group reiterated a “buy” rating on shares of TrovaGene in a research note on Friday, July 10th. Analysts at Cantor Fitzgerald reiterated a “buy” rating and set a $14.00 price target on shares of TrovaGene in a research note on Friday, July 3rd. Analysts at Piper Jaffray reiterated an “overweight” rating and set a $9.00 price target (up previously from $7.00) on shares of TrovaGene in a research note on Saturday, May 9th. Finally, analysts at Janney Montgomery Scott initiated coverage on shares of TrovaGene in a research note on Thursday, April 2nd. They set a “buy” rating and a $11.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $11.80.
TrovaGene (NASDAQ:TROV) traded down 2.10% on Tuesday, hitting $9.32. The stock had a trading volume of 411,169 shares. TrovaGene has a 1-year low of $2.97 and a 1-year high of $13.58. The stock has a 50-day moving average of $10.70 and a 200-day moving average of $8.09. The company’s market cap is $227.92 million.
Maxim Group reiterated their buy rating on shares of TrovaGene (NASDAQ:TROV) in a research report sent to investors on Friday morning, Analyst Ratings Net reports
A number of other analysts have also recently weighed in on TROV. Analysts at Zacks downgraded shares of TrovaGene from a buy rating to a sell rating in a research note on Tuesday. Analysts at Cantor Fitzgerald reiterated a buy rating and set a $14.00 price target on shares of TrovaGene in a research note on Friday, July 3rd. Analysts at Piper Jaffray reiterated an overweight rating and set a $9.00 price target (up previously from $7.00) on shares of TrovaGene in a research note on Saturday, May 9th. Finally, analysts at Janney Montgomery Scott initiated coverage on shares of TrovaGene in a research note on Thursday, April 2nd. They set a buy rating and a $11.00 price target on the stock. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The company presently has a consensus rating of Buy and a consensus price target of $11.80.
Shares of TrovaGene (NASDAQ:TROV) traded up 2.12% during mid-day trading on Friday, hitting $9.63. 322,646 shares of the company’s stock traded hands. TrovaGene has a 1-year low of $2.97 and a 1-year high of $13.58. The stock has a 50-day moving average of $10.94 and a 200-day moving average of $7.81. The company’s market cap is $235.50 million.
TrovaGene (NASDAQ:TROV) last announced its earnings results on Tuesday, May 5th. The company reported ($0.24) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.23) by $0.01. On average, analysts predict that TrovaGene will post $-1.09 earnings per share for the current fiscal year.
Maxim Group analyst Jason Kolbert was out pounding the table on TrovaGene Inc (NASDAQ:TROV) Thursday, reiterating a Buy rating and price target of $13, which represents a potential upside of 37% from where the stock is currently trading.
Kolbert wrote, “We recently checked in with Trovagene management, as the stock has been under pressure in recent days. While there’s no specific reason behind the pressure, we do believe that recent efforts in the competitive landscape have been weighing on the stock. These include claims from competitive companies pursuing IPOs about their products in the oncology diagnostics marketplace versus Trovagene’s. Our advice to clients and investors: “Stay the course.””
The analyst concluded, “While Trovagene is now a commercial company (the company reported its first quarter of product revenues last quarter), we see 2015 as a building year towards KOL adoption. The real revenue build begins in 2016 as Trovagene starts to penetrate larger commercial opportunities with a wider offering of tests. We see advanced technology, high sensitivity, and other attributes to the company’s platform that move it beyond just single molecule sequencing.”
The 8-k referenced in the Seeking Alpha article was filed in 2013 not 2015. The seeking Alpha article was a 2013 article. Sorry for the confusion.
I copied the article as stated . It was posted in 3 sections .
Unfortunately,with the comments it became separated and the
date never printed. I answered Min's question re the 25th filing
yesterday ,an hour after it was originally posted.
Sorry for the confusion.
Mr. Matthew L. Posard is an Independent Director of Halozyme Therapeutics, Inc. Mr. Posard is currently Executive Vice President, Chief Commercial Officer of Trovagene, Inc., where he oversees sales, marketing, client services, market and business development. Trovagene is a molecular diagnostic biotechnology company which focuses on precision cancer monitoring. Previously, Mr. Posard was Senior Vice President and General Manager of Illumina, Inc.’s New Emerging Opportunity Business, where he oversaw the development and transfer of Illumina technology into new markets. He joined Illumina in 2006 as Vice President of Global Marketing and served as Vice President of Global Sales from 2007 to 2011, leading Illumina’s successful commercial entry into the life science sequencing market. Prior to joining Illumina, Mr. Posard held various positions in strategic and product marketing at Gen-Probe, Inc., helping the company attain leading market positions in DNA probe-based infectious disease diagnostics and blood banking. Previously, he oversaw global marketing at Biosite, Inc., where he was instrumental in the successful introduction of the company’s BNP congestive heart failure biomarker and its BNP co-marketing collaboration with Beckman Coulter. Mr. Posard holds a B.A. degree in Quantitative Economics and Decision Science from the University of California, San Diego.
Min, it's a Seeking Alpha article dated 6/28/2003 article 1527302-
This part of the post didn't post.
If they were interested then,and have been collaborating since,they may still be interested now.
At what pps do you think Illuminia would pay for TROV?
TROV better not sell for under $40. This company has all the makings of a billion dollar business. Huge need for the service they are rolling out, huge market, huge money. They can potentially help save the healthcare industry tens of billions a year while saving lives, helping people live longer, etc. The CFO said in their last presentation that 40+ cancer centers want to work with TROV and that NONE are saying no to them. HUGE! Now we know why the vast majority of the old executive management team from Sequenom took over TROV. Sky is the limit on this stock. no reason why it cant go to $100 and be a $2-$3 billion dollar co IMHO
Through an 8-K filed on the 25th, TrovaGene (NASDAQ:TROV) discretely announced its entry into a research agreement with Illumina (NASDAQ:ILMN), a leading sequencing and diagnostics company. The general, almost secretive, nature of the filing appears to hint at a large undertaking. Moreover, given Illumina's recent spree of acquisitions, I believe the recent research agreement just might be the overture to a buyout.
I believe TrovaGene appears as an attractive acquisition for Illumina for a number of reasons
The partnership between TrovaGene and Illumina has been established in the form of a research agreement. This will allow Illumina to assess both TrovaGene's technology and patent estate to determine if it represents a value-add purchase.
TrovaGene's urine-based assays are reliant on an effective system for real-time PCR and genetic analysis, which are both Illumina's specialty.
Illumina's acquisition of Verinata at a point where the latter was looking into assays built upon "cell-free DNA" appears to indicate Illumina's current interest within the science. TrovaGene's transrenal nucleic acid (TrNA) foundation is all "cell-free."
Granted that part of the problem with the script numbers is the late distribution of samples.
....but volatility,Jeremy? Volatility means some weeks Script numbers are great and some weeks not so great. Our SCRIPT NUMBERS ARE FLAT-LINED.
I hope for all our sakes that they pick up soon or a partner is announced to help out with
Sorry for the sour post but this is
.Hope we snap back on Monday.