TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) – Stock analysts at Jefferies Group lifted their FY2019 earnings per share (EPS) estimates for shares of TRACON Pharmaceuticals in a report issued on Thursday. Jefferies Group analyst M. Raycroft now forecasts that the biopharmaceutical company will earn $0.41 per share for the year, up from their prior forecast of $0.32.
TRACON Pharmaceuticals (NASDAQ:TCON) last posted its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping the consensus estimate of ($0.52) by $0.12. The firm had revenue of $0.63 million during the quarter, compared to analyst estimates of $0.81 million. TRACON Pharmaceuticals had a negative return on equity of 119.93% and a negative net margin of 963.11%. TRADEMARK VIOLATION WARNING: This piece was posted by Stock Observer and is the sole property of of Stock Observer. If you are viewing this piece on another site, it was illegally copied and reposted in violation of U.S. & international copyright and trademark laws. The correct version of this piece can be read at https://www.thestockobserver.com/2017/08/12/tracon-pharmaceuticals-inc-nasdaqtcon-expected-to-earn-fy2019-earnings-of-0-41-per-share.html.
TCON has been the subject of a number of other reports. Zacks Investment Research downgraded shares of TRACON Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Stifel Nicolaus decreased their target price on shares of TRACON Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a research report on Tuesday, June 13th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $8.88.
TRACON Pharmaceuticals (NASDAQ TCON) traded up 2.27% during midday trading on Friday, hitting $2.25. The stock had a trading volume of 15,880 shares. The firm has a 50-day moving average of $2.25 and a 200 day moving average of $3.30. TRACON Pharmaceuticals has a 52-week low of $2.00 and a 52-week high of $7.30. The firm’s market capitalization is $37.37 million.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp increased its position in TRACON Pharmaceuticals by 1.5% in the first quarter. Stifel Financial Corp now owns 30,200 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 450 shares in the last quarter. Eventide Asset Management LLC boosted its position in TRACON Pharmaceuticals by 4.0% in the first quarter. Eventide Asset Management LLC now owns 900,000 shares of the biopharmaceutical company’s stock worth $3,375,000 after buying an additional 34,474 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in TRACON Pharmaceuticals by 181.8% in the fourth quarter. Renaissance Technologies LLC now owns 40,300 shares of the biopharmaceutical company’s stock worth $197,000 after buying an additional 26,000 shares during the last quarter. Institutional investors own 33.22% of the company’s stock.
TRACON Pharmaceuticals Company Profile
TRACON Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics for cancer, wet age-related macular degeneration (wet AMD) and fibrotic diseases. The Company’s research focuses on antibodies that bind to the endoglin receptor, which is essential to angiogenesis (the process of new blood vessel formation) and a contributor to fibrosis (tissue scarring).
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