TRACON Pharmaceuticals Inc (NASDAQ:TCON) Expected to Announce Earnings of -$0.19 Per Share

Analysts expect that TRACON Pharmaceuticals Inc (NASDAQ:TCON) will post earnings per share of ($0.19) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for TRACON Pharmaceuticals’ earnings, with the highest EPS estimate coming in at ($0.18) and the lowest estimate coming in at ($0.20). TRACON Pharmaceuticals reported earnings of ($0.33) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 42.4%. The firm is scheduled to issue its next earnings results on Wednesday, August 14th.

According to Zacks, analysts expect that TRACON Pharmaceuticals will report full year earnings of ($0.81) per share for the current year, with EPS estimates ranging from ($0.82) to ($0.79). For the next fiscal year, analysts forecast that the firm will report earnings of ($0.23) per share, with EPS estimates ranging from ($0.72) to $0.27. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for TRACON Pharmaceuticals.

TRACON Pharmaceuticals (NASDAQ:TCON) last posted its earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($0.24) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.03).

TCON has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $7.00 target price on shares of TRACON Pharmaceuticals in a report on Friday, March 1st. BTIG Research downgraded TRACON Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Friday, April 12th. Finally, Zacks Investment Research downgraded TRACON Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Friday, March 8th.

Several institutional investors and hedge funds have recently bought and sold shares of TCON. Nicolet Advisory Services LLC bought a new position in shares of TRACON Pharmaceuticals in the first quarter worth $49,000. Renaissance Technologies LLC increased its position in shares of TRACON Pharmaceuticals by 22.4% in the first quarter. Renaissance Technologies LLC now owns 1,029,485 shares of the biopharmaceutical company’s stock worth $1,410,000 after purchasing an additional 188,585 shares during the period. Finally, Telemetry Investments L.L.C. increased its position in shares of TRACON Pharmaceuticals by 153.5% in the fourth quarter. Telemetry Investments L.L.C. now owns 966,975 shares of the biopharmaceutical company’s stock worth $609,000 after purchasing an additional 585,566 shares during the period. 56.50% of the stock is owned by institutional investors.

Shares of TCON remained flat at $$0.63 during midday trading on Friday. The stock had a trading volume of 37,431 shares, compared to its average volume of 191,934. TRACON Pharmaceuticals has a 12 month low of $0.50 and a 12 month high of $3.20. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $18.89 million, a P/E ratio of -0.49 and a beta of 2.54.

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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Earnings History and Estimates for TRACON Pharmaceuticals (NASDAQ:TCON)

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