TRACON Pharmaceuticals (NASDAQ:TCON) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of TRACON Pharmaceuticals (NASDAQ:TCONGet Free Report) in a report issued on Sunday. The firm set a “strong-buy” rating on the biopharmaceutical company’s stock.

Separately, HC Wainwright decreased their price objective on shares of TRACON Pharmaceuticals from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, March 6th.

Check Out Our Latest Stock Report on TCON

TRACON Pharmaceuticals Price Performance

Shares of NASDAQ TCON opened at $0.43 on Friday. The company has a market cap of $19.56 million, a P/E ratio of -1.65 and a beta of 0.80. TRACON Pharmaceuticals has a 1 year low of $0.13 and a 1 year high of $2.19. The firm has a 50-day simple moving average of $0.26 and a two-hundred day simple moving average of $0.21.

TRACON Pharmaceuticals (NASDAQ:TCONGet Free Report) last announced its quarterly earnings data on Tuesday, March 5th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.04. The firm had revenue of $3.41 million during the quarter, compared to the consensus estimate of $3.00 million. As a group, equities research analysts expect that TRACON Pharmaceuticals will post -0.2 EPS for the current year.

Hedge Funds Weigh In On TRACON Pharmaceuticals

Institutional investors have recently modified their holdings of the stock. Susquehanna International Group LLP purchased a new position in shares of TRACON Pharmaceuticals during the first quarter worth approximately $79,000. Jane Street Group LLC purchased a new position in TRACON Pharmaceuticals during the first quarter valued at approximately $32,000. Renaissance Technologies LLC increased its holdings in TRACON Pharmaceuticals by 24.8% during the first quarter. Renaissance Technologies LLC now owns 168,600 shares of the biopharmaceutical company’s stock valued at $319,000 after buying an additional 33,551 shares during the period. Charles Schwab Investment Management Inc. purchased a new position in TRACON Pharmaceuticals during the first quarter valued at approximately $43,000. Finally, CI Private Wealth LLC purchased a new position in TRACON Pharmaceuticals during the fourth quarter valued at approximately $86,000. 11.61% of the stock is owned by hedge funds and other institutional investors.

TRACON Pharmaceuticals Company Profile

(Get Free Report)

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.

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