Analysts predict that TRACON Pharmaceuticals Inc (NASDAQ:TCON) will post ($0.27) earnings per share (EPS) for the current quarter, Zacks reports. Zero analysts have made estimates for TRACON Pharmaceuticals’ earnings, with the lowest EPS estimate coming in at ($0.34) and the highest estimate coming in at ($0.19). TRACON Pharmaceuticals posted earnings per share of $0.07 in the same quarter last year, which would indicate a negative year over year growth rate of 485.7%. The company is scheduled to issue its next quarterly earnings results on Tuesday, November 6th.
According to Zacks, analysts expect that TRACON Pharmaceuticals will report full-year earnings of ($1.23) per share for the current financial year, with EPS estimates ranging from ($1.38) to ($1.08). For the next fiscal year, analysts forecast that the business will report earnings of ($0.35) per share, with EPS estimates ranging from ($0.42) to ($0.27). Zacks’ EPS averages are an average based on a survey of sell-side analysts that cover TRACON Pharmaceuticals.
TRACON Pharmaceuticals (NASDAQ:TCON) last issued its quarterly earnings data on Wednesday, August 8th. The biopharmaceutical company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.02).
TCON has been the topic of several recent analyst reports. Needham & Company LLC dropped their price objective on TRACON Pharmaceuticals to $8.00 and set a “buy” rating on the stock in a research note on Thursday, May 10th. ValuEngine upgraded TRACON Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Finally, Zacks Investment Research upgraded TRACON Pharmaceuticals from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research note on Tuesday, August 14th.
NASDAQ:TCON traded up $0.02 during trading hours on Wednesday, hitting $2.12. 58,000 shares of the company traded hands, compared to its average volume of 159,508. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.17. TRACON Pharmaceuticals has a one year low of $1.90 and a one year high of $3.95. The stock has a market cap of $62.66 million, a PE ratio of -1.89 and a beta of 1.88.
Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in TRACON Pharmaceuticals by 368.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 76,999 shares of the biopharmaceutical company’s stock valued at $208,000 after acquiring an additional 60,574 shares in the last quarter. Alambic Investment Management L.P. bought a new stake in shares of TRACON Pharmaceuticals during the 1st quarter worth $213,000. Renaissance Technologies LLC raised its stake in shares of TRACON Pharmaceuticals by 73.0% during the 4th quarter. Renaissance Technologies LLC now owns 264,700 shares of the biopharmaceutical company’s stock worth $887,000 after purchasing an additional 111,700 shares during the period. Finally, NEA Management Company LLC raised its stake in shares of TRACON Pharmaceuticals by 25.7% during the 1st quarter. NEA Management Company LLC now owns 3,467,181 shares of the biopharmaceutical company’s stock worth $7,975,000 after purchasing an additional 707,964 shares during the period. Institutional investors and hedge funds own 56.40% of the company’s stock.
TRACON Pharmaceuticals Company Profile
TRACON Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for cancer, wet age-related macular degeneration (AMD), and fibrotic diseases. Its lead product candidate is TRC105, an endoglin antibody, which is in Phase III clinical trials for angiosarcoma; randomized Phase II clinical trials for renal cell carcinoma; Phase II clinical trials for gestational trophoblastic neoplasia; Phase I/II clinical trials for hepatocellular carcinoma; Phase I clinical trial for lung cancer; Phase I/II clinical trials for breast cancer; Phase II clinical trials for prostate cancer; and randomized Phase II clinical trials for wet AMD.
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