TRACON Pharmaceuticals (NASDAQ:TCON) Given “Buy” Rating at HC Wainwright

HC Wainwright reissued their buy rating on shares of TRACON Pharmaceuticals (NASDAQ:TCON) in a research report sent to investors on Thursday, AnalystRatings.com reports. HC Wainwright currently has a $2.00 price target on the biopharmaceutical company’s stock.

Separately, Zacks Investment Research raised TRACON Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, October 4th.

TRACON Pharmaceuticals stock traded up $3.46 during midday trading on Thursday, reaching $3.85. 50,900 shares of the stock traded hands, compared to its average volume of 30,481. The firm has a market cap of $14.09 million, a PE ratio of -2.96 and a beta of 2.28. TRACON Pharmaceuticals has a 12-month low of $2.78 and a 12-month high of $17.30. The company has a 50-day simple moving average of $0.46 and a two-hundred day simple moving average of $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 released its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.03. Equities research analysts anticipate that TRACON Pharmaceuticals will post -0.85 earnings per share for the current year.

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Several large investors have recently added to or reduced their stakes in TCON. Renaissance Technologies LLC increased its holdings in shares of TRACON Pharmaceuticals by 17.5% in the second quarter. Renaissance Technologies LLC now owns 1,209,203 shares of the biopharmaceutical company’s stock valued at $822,000 after purchasing an additional 179,718 shares during the period. Wedbush Securities Inc. increased its holdings in shares of TRACON Pharmaceuticals by 207.4% in the third quarter. Wedbush Securities Inc. now owns 146,000 shares of the biopharmaceutical company’s stock valued at $65,000 after purchasing an additional 98,500 shares during the period. Finally, Susquehanna International Group LLP acquired a new position in shares of TRACON Pharmaceuticals in the second quarter valued at approximately $26,000. 54.72% of the stock is currently owned by institutional investors and hedge funds.

TRACON Pharmaceuticals Company Profile

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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