TRACON Pharmaceuticals (NASDAQ:TCON) Raised to Buy at ValuEngine

TRACON Pharmaceuticals (NASDAQ:TCON) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, ValuEngine reports.

TCON has been the subject of several other research reports. HC Wainwright reaffirmed a “buy” rating and issued a $2.00 price target on shares of TRACON Pharmaceuticals in a report on Thursday, November 7th. Zacks Investment Research raised TRACON Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, October 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. TRACON Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $4.88.

NASDAQ:TCON opened at $3.26 on Tuesday. TRACON Pharmaceuticals has a one year low of $2.78 and a one year high of $17.30. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.58 and a current ratio of 1.58. The stock has a market cap of $10.60 million, a PE ratio of -0.25 and a beta of 2.24. The stock has a 50 day moving average price of $1.84 and a 200 day moving average price of $0.88.

TRACON Pharmaceuticals (NASDAQ:TCON) last posted its quarterly earnings results on Tuesday, November 5th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.03. As a group, analysts predict that TRACON Pharmaceuticals will post -7.74 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the stock. Susquehanna International Group LLP acquired a new stake in shares of TRACON Pharmaceuticals in the second quarter valued at approximately $26,000. Wedbush Securities Inc. purchased a new position in TRACON Pharmaceuticals in the second quarter worth approximately $32,000. Finally, Renaissance Technologies LLC grew its position in TRACON Pharmaceuticals by 17.5% in the second quarter. Renaissance Technologies LLC now owns 1,209,203 shares of the biopharmaceutical company’s stock worth $822,000 after acquiring an additional 179,718 shares during the period.

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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