TRACON Pharmaceuticals (NASDAQ:TCON) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of TRACON Pharmaceuticals (NASDAQ:TCON) from a buy rating to a hold rating in a research report sent to investors on Thursday.

Separately, HC Wainwright dropped their price target on TRACON Pharmaceuticals from $120.00 to $60.00 and set a buy rating for the company in a research note on Wednesday, April 3rd.

TRACON Pharmaceuticals Trading Up 11.9 %

TRACON Pharmaceuticals stock opened at $1.60 on Thursday. The firm has a 50 day moving average of $1.50 and a 200 day moving average of $3.42. The firm has a market capitalization of $4.29 million, a price-to-earnings ratio of 2.39 and a beta of 1.25. TRACON Pharmaceuticals has a 12-month low of $0.66 and a 12-month high of $14.75.

TRACON Pharmaceuticals (NASDAQ:TCON) last released its earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($0.13). The company had revenue of $0.10 million for the quarter. During the same period last year, the business posted ($7.20) earnings per share. On average, analysts predict that TRACON Pharmaceuticals will post -4 EPS for the current year.

TRACON Pharmaceuticals Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 28th will be given a dividend of $0.045 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a dividend yield of 40.3%.

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.