Tokai Pharmaceuticals Inc. (TKAI) Rating Lowered to Underperform at Bank of America Corp.

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Tokai Pharmaceuticals Inc. (NASDAQ:TKAI) was downgraded by Bank of America Corp. from a “neutral” rating to an “underperform” rating in a report issued on Thursday.
TKAI has been the subject of a number of other reports. Janney Montgomery Scott assumed coverage on Tokai Pharmaceuticals in a report on Wednesday, April 6th. They issued a “buy” rating for the company. BMO Capital Markets assumed coverage on Tokai Pharmaceuticals in a report on Monday, April 11th. They issued an “outperform” rating and a $11.00 price target for the company. William Blair downgraded Tokai Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 26th. Stifel Nicolaus downgraded Tokai Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Finally, Wells Fargo & Co. downgraded Tokai Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Tokai Pharmaceuticals has a consensus rating of “Hold” and an average price target of $16.03.
Tokai Pharmaceuticals (NASDAQ:TKAI) traded down 2.34% during midday trading on Thursday, reaching $1.25. The company’s stock had a trading volume of 1,464,664 shares. The company’s 50-day moving average price is $1.13 and its 200-day moving average price is $5.07. The company’s market capitalization is $28.29 million. Tokai Pharmaceuticals has a 1-year low of $0.98 and a 1-year high of $14.22.

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Several hedge funds and other institutional investors have recently added to or reduced their stakes in TKAI. Sabby Management LLC acquired a new position in Tokai Pharmaceuticals during the first quarter valued at about $4,556,000. JPMorgan Chase & Co. raised its stake in shares of Tokai Pharmaceuticals by 4.4% in the first quarter. JPMorgan Chase & Co. now owns 99,231 shares of the biopharmaceutical company’s stock valued at $557,000 after buying an additional 4,214 shares during the period. State Street Corp raised its stake in shares of Tokai Pharmaceuticals by 7.2% in the first quarter. State Street Corp now owns 86,767 shares of the biopharmaceutical company’s stock valued at $487,000 after buying an additional 5,854 shares during the period. BlackRock Fund Advisors raised its stake in shares of Tokai Pharmaceuticals by 3.2% in the first quarter. BlackRock Fund Advisors now owns 530,538 shares of the biopharmaceutical company’s stock valued at $2,976,000 after buying an additional 16,315 shares during the period. Finally, Goldman Sachs Group Inc. raised its stake in shares of Tokai Pharmaceuticals by 16.7% in the first quarter. Goldman Sachs Group Inc. now owns 19,486 shares of the biopharmaceutical company’s stock valued at $109,000 after buying an additional 2,784 shares during the period. 23.81% of the stock is owned by institutional investors.
Tokai Pharmaceuticals Company Profile
Tokai Pharmaceuticals, Inc is a biopharmaceutical company. The Company is focused on developing and commercializing therapies for the treatment of prostate cancer and other hormonally-driven diseases. The Company’s lead drug candidate, galeterone, is an oral small molecule that utilizes the mechanistic pathways of second-generation androgen signaling inhibitors, while also introducing a third mechanism-androgen receptor degradation.

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