TRACON Pharmaceuticals (NASDAQ:TCON)‘s stock had its “buy” rating restated by equities researchers at HC Wainwright in a report released on Thursday, AnalystRatings.com reports. They presently have a $2.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s price objective points to a potential downside of 48.05% from the company’s current price.
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Separately, Zacks Investment Research raised TRACON Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Friday, October 4th.
TRACON Pharmaceuticals stock traded up $3.46 during mid-day trading on Thursday, hitting $3.85. The company had a trading volume of 50,900 shares, compared to its average volume of 30,481. TRACON Pharmaceuticals has a 12-month low of $2.78 and a 12-month high of $17.30. The company has a market capitalization of $14.09 million, a price-to-earnings ratio of -2.96 and a beta of 2.28. The company’s fifty day moving average is $0.46 and its 200-day moving average is $0.56. The company has a current ratio of 1.93, a quick ratio of 1.93 and a debt-to-equity ratio of 0.45.
TRACON Pharmaceuticals (NASDAQ:TCON) last issued its earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.03. As a group, sell-side analysts expect that TRACON Pharmaceuticals will post -0.85 EPS for the current fiscal year.
Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC increased its position in shares of TRACON Pharmaceuticals by 17.5% during the 2nd quarter. Renaissance Technologies LLC now owns 1,209,203 shares of the biopharmaceutical company’s stock worth $822,000 after purchasing an additional 179,718 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of TRACON Pharmaceuticals by 207.4% during the 3rd quarter. Wedbush Securities Inc. now owns 146,000 shares of the biopharmaceutical company’s stock worth $65,000 after purchasing an additional 98,500 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new stake in shares of TRACON Pharmaceuticals during the 2nd quarter worth about $26,000. 54.72% of the stock is owned by hedge funds and other institutional investors.
About TRACON Pharmaceuticals
TRACON Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for cancer and wet age-related macular degeneration (AMD). Its lead product candidate is TRC105, an endoglin antibody, which is in randomized Phase III clinical trial for angiosarcoma; Phase I/II clinical trial for hepatocellular carcinoma; Phase I clinical trial for lung cancer; Phase I/II clinical trial for breast cancer; Phase II clinical trials for prostate cancer; and randomized Phase II clinical trial for wet AMD.
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