TRACON Pharmaceuticals (NASDAQ:TCON) Now Covered by Analysts at StockNews.com

StockNews.com started coverage on shares of TRACON Pharmaceuticals (NASDAQ:TCON) in a research report report published on Tuesday morning. The firm issued a strong-buy rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright dropped their target price on shares of TRACON Pharmaceuticals from $120.00 to $60.00 and set a buy rating on the stock in a report on Wednesday, April 3rd.

TRACON Pharmaceuticals Price Performance

NASDAQ TCON opened at $2.11 on Tuesday. The company’s 50 day simple moving average is $5.21 and its 200 day simple moving average is $4.12. TRACON Pharmaceuticals has a 12 month low of $1.59 and a 12 month high of $36.90. The company has a market capitalization of $4.81 million, a P/E ratio of -0.41 and a beta of 0.95.

TRACON Pharmaceuticals (NASDAQ:TCON) last released its earnings results on Tuesday, March 5th. The biopharmaceutical company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of ($0.60) by $0.80. The business had revenue of $3.41 million during the quarter, compared to the consensus estimate of $3.00 million. On average, analysts anticipate that TRACON Pharmaceuticals will post -4 earnings per share for the current year.

Institutional Investors Weigh In On TRACON Pharmaceuticals

A number of large investors have recently made changes to their positions in the company. Jane Street Group LLC acquired a new stake in shares of TRACON Pharmaceuticals during the first quarter valued at approximately $27,000. Renaissance Technologies LLC raised its holdings in shares of TRACON Pharmaceuticals by 29.1% during the third quarter. Renaissance Technologies LLC now owns 67,900 shares of the biopharmaceutical company’s stock valued at $113,000 after acquiring an additional 15,300 shares during the period. Charles Schwab Investment Management Inc. acquired a new stake in shares of TRACON Pharmaceuticals during the first quarter valued at approximately $43,000. Susquehanna International Group LLP acquired a new stake in shares of TRACON Pharmaceuticals during the first quarter valued at approximately $79,000. Finally, Virtu Financial LLC acquired a new stake in shares of TRACON Pharmaceuticals during the fourth quarter valued at approximately $67,000. Institutional investors and hedge funds own 11.61% of the company’s stock.

TRACON Pharmaceuticals Company Profile

TRACON Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel targeted therapeutics for cancer in the United States. Its clinical stage products include envafolimab (KN035), a PD-L1 single-domain antibody for the treatment of refractory soft tissue sarcoma; and YH001, an investigational humanized cytotoxic T-lymphocyte-associated protein 4 IgG1 monoclonal antibody that is in Phase I clinical trial for the treatment of various cancer indications.