TRACON Pharmaceuticals, Inc. (TCON) Downgraded by Zacks Investment Research to Hold

TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “TRACON Pharmaceuticals, Inc. is a biopharmaceutical company. The company’s product candidate includes TRC105, TRC205 and TRC102 which are in different clinical stage for cancer, age-related macular degeneration and fibrotic diseases. TRACON Pharmaceuticals, Inc. is headquartered in San Diego, California. “

Separately, Stifel Nicolaus lowered their target price on TRACON Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, June 13th.

Shares of TRACON Pharmaceuticals (TCON) traded down 6.3914% during trading on Wednesday, hitting $3.2763. The stock had a trading volume of 100,488 shares. The stock’s market capitalization is $54.57 million. The firm has a 50 day moving average price of $3.50 and a 200-day moving average price of $3.50. TRACON Pharmaceuticals has a 52 week low of $2.00 and a 52 week high of $7.30.

TRACON Pharmaceuticals (NASDAQ:TCON) last released its earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.12. The company had revenue of $0.63 million during the quarter, compared to analysts’ expectations of $0.81 million. TRACON Pharmaceuticals had a negative return on equity of 119.93% and a negative net margin of 963.11%. On average, equities research analysts forecast that TRACON Pharmaceuticals will post ($1.57) EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This piece of content was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece of content on another domain, it was stolen and reposted in violation of U.S. & international copyright & trademark laws. The correct version of this piece of content can be accessed at https://www.com-unik.info/2017/10/11/tracon-pharmaceuticals-inc-tcon-downgraded-by-zacks-investment-research-to-hold.html.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Stifel Financial Corp lifted its stake in shares of TRACON Pharmaceuticals by 1.5% in the 1st quarter. Stifel Financial Corp now owns 30,200 shares of the biopharmaceutical company’s stock valued at $113,000 after purchasing an additional 450 shares during the period. Renaissance Technologies LLC lifted its stake in shares of TRACON Pharmaceuticals by 56.8% in the 1st quarter. Renaissance Technologies LLC now owns 63,200 shares of the biopharmaceutical company’s stock valued at $237,000 after purchasing an additional 22,900 shares during the period. Finally, Eventide Asset Management LLC lifted its stake in shares of TRACON Pharmaceuticals by 4.0% in the 1st quarter. Eventide Asset Management LLC now owns 900,000 shares of the biopharmaceutical company’s stock valued at $3,375,000 after purchasing an additional 34,474 shares during the period. Institutional investors own 31.65% of the company’s stock.

About TRACON Pharmaceuticals

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).

What are top analysts saying about TRACON Pharmaceuticals Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for TRACON Pharmaceuticals Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit