Analysts’ Weekly Ratings Changes for TRACON Pharmaceuticals (TCON)

Several brokerages have updated their recommendations and price targets on shares of TRACON Pharmaceuticals (NASDAQ: TCON) in the last few weeks:

• 9/4/2023 – TRACON Pharmaceuticals is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 8/27/2023 – TRACON Pharmaceuticals is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 8/21/2023 – TRACON Pharmaceuticals had its “hold” rating reaffirmed by analysts at Jonestrading.
• 8/19/2023 – TRACON Pharmaceuticals is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 8/15/2023 – TRACON Pharmaceuticals had its price target lowered by analysts at Robert W. Baird from $7.00 to $3.00. They now have an “outperform” rating on the stock.
• 8/11/2023 – TRACON Pharmaceuticals is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 8/3/2023 – TRACON Pharmaceuticals is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 7/26/2023 – TRACON Pharmaceuticals is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 7/18/2023 – TRACON Pharmaceuticals is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.
• 7/10/2023 – TRACON Pharmaceuticals is now covered by analysts at StockNews.com. They set a “hold” rating on the stock.

TRACON Pharmaceuticals Stock Performance

Shares of TCON stock opened at $0.26 on Tuesday. The firm has a market cap of $8.04 million, a price-to-earnings ratio of -0.22 and a beta of 1.24. TRACON Pharmaceuticals, Inc. has a 52 week low of $0.19 and a 52 week high of $2.19. The firm’s 50-day simple moving average is $0.29 and its two-hundred day simple moving average is $0.87.

TRACON Pharmaceuticals (NASDAQ:TCON) last posted its quarterly earnings results on Monday, August 14th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.30. The business had revenue of $9.00 million during the quarter. Analysts forecast that TRACON Pharmaceuticals, Inc. will post -0.56 earnings per share for the current year.

Hedge Funds Weigh In On TRACON Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in TRACON Pharmaceuticals during the first quarter valued at approximately $27,000. Charles Schwab Investment Management Inc. purchased a new position in TRACON Pharmaceuticals during the first quarter valued at approximately $43,000. Virtu Financial LLC purchased a new position in TRACON Pharmaceuticals during the fourth quarter valued at approximately $67,000. Susquehanna International Group LLP purchased a new position in TRACON Pharmaceuticals during the first quarter valued at approximately $79,000. Finally, CI Private Wealth LLC purchased a new position in TRACON Pharmaceuticals during the fourth quarter valued at approximately $86,000. Hedge funds and other institutional investors own 40.17% of the company’s stock.

TRACON Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for cancer in the United States. Its clinical stage products include envafolimab (KN035), a PD-L1 single-domain antibody for the treatment of soft tissue sarcoma; and YH001, an investigational humanized CTLA-4 IgG1 monoclonal antibody for the treatment of various cancer indications.