FY2025 EPS Estimates for TRACON Pharmaceuticals, Inc. Lowered by HC Wainwright (NASDAQ:TCON)

TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) – Investment analysts at HC Wainwright dropped their FY2025 earnings per share (EPS) estimates for TRACON Pharmaceuticals in a research report issued to clients and investors on Wednesday, April 3rd. HC Wainwright analyst E. White now anticipates that the biopharmaceutical company will post earnings per share of ($0.27) for the year, down from their prior estimate of ($0.08). HC Wainwright has a “Buy” rating and a $3.00 price target on the stock. The consensus estimate for TRACON Pharmaceuticals’ current full-year earnings is ($0.20) per share.

TRACON Pharmaceuticals (NASDAQ:TCON) last issued its earnings results on Tuesday, March 5th. The biopharmaceutical company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The firm had revenue of $3.41 million for the quarter, compared to analysts’ expectations of $3.00 million.

Separately, StockNews.com began coverage on shares of TRACON Pharmaceuticals in a research note on Monday. They issued a “strong-buy” rating on the stock.

TRACON Pharmaceuticals Stock Down 12.4 %

Shares of TCON stock opened at $0.17 on Monday. TRACON Pharmaceuticals has a fifty-two week low of $0.13 and a fifty-two week high of $2.14. The firm’s 50 day moving average price is $0.27 and its two-hundred day moving average price is $0.21. The stock has a market cap of $7.65 million, a price-to-earnings ratio of -0.65 and a beta of 0.94.

Institutional Investors Weigh In On TRACON Pharmaceuticals

Large investors have recently modified their holdings of the stock. Millennium Management LLC acquired a new stake in TRACON Pharmaceuticals in the second quarter valued at approximately $150,000. Renaissance Technologies LLC boosted its stake in shares of TRACON Pharmaceuticals by 98.9% in the fourth quarter. Renaissance Technologies LLC now owns 135,049 shares of the biopharmaceutical company’s stock valued at $201,000 after purchasing an additional 67,149 shares during the period. CI Private Wealth LLC acquired a new stake in TRACON Pharmaceuticals during the 4th quarter valued at $86,000. Bank of New York Mellon Corp increased its stake in TRACON Pharmaceuticals by 67.2% during the 1st quarter. Bank of New York Mellon Corp now owns 142,253 shares of the biopharmaceutical company’s stock worth $374,000 after buying an additional 57,174 shares during the period. Finally, Virtu Financial LLC acquired a new position in TRACON Pharmaceuticals in the 4th quarter worth $67,000. Institutional investors and hedge funds own 11.61% of the company’s stock.

TRACON Pharmaceuticals Company Profile

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.