TRACON Pharmaceuticals, Inc. (TCON) Expected to Announce Earnings of -$0.53 Per Share
Brokerages expect TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) to report ($0.53) earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have provided estimates for TRACON Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.66) and the highest is ($0.45). TRACON Pharmaceuticals posted earnings of ($0.68) per share during the same quarter last year, which suggests a positive year-over-year growth rate of 22.1%. The business is expected to issue its next earnings report after the market closes on Tuesday, August 8th.
According to Zacks, analysts expect that TRACON Pharmaceuticals will report full-year earnings of ($1.95) per share for the current fiscal year, with EPS estimates ranging from ($2.41) to ($1.68). For the next fiscal year, analysts expect that the firm will post earnings of ($1.05) per share, with EPS estimates ranging from ($1.96) to $0.10. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow TRACON Pharmaceuticals.
TRACON Pharmaceuticals (NASDAQ:TCON) last released its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.44) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.03. TRACON Pharmaceuticals had a negative net margin of 964.36% and a negative return on equity of 126.77%. The company had revenue of $0.63 million during the quarter, compared to analyst estimates of $0.92 million.
TCON has been the topic of several research reports. Stifel Nicolaus cut their price target on TRACON Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating on the stock in a research note on Tuesday, June 13th. Zacks Investment Research lowered TRACON Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $8.88.
TRACON Pharmaceuticals (NASDAQ:TCON) remained flat at $2.20 during trading on Friday. 4,222 shares of the company traded hands. TRACON Pharmaceuticals has a 12 month low of $2.00 and a 12 month high of $7.30. The firm has a 50-day moving average price of $2.24 and a 200-day moving average price of $3.44. The firm’s market capitalization is $36.54 million.
A number of institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp raised its position in TRACON Pharmaceuticals by 1.5% in the first quarter. Stifel Financial Corp now owns 30,200 shares of the biopharmaceutical company’s stock valued at $113,000 after buying an additional 450 shares during the period. Renaissance Technologies LLC raised its position in TRACON Pharmaceuticals by 56.8% in the first quarter. Renaissance Technologies LLC now owns 63,200 shares of the biopharmaceutical company’s stock valued at $237,000 after buying an additional 22,900 shares during the period. Finally, Eventide Asset Management LLC raised its position in TRACON Pharmaceuticals by 4.0% in the first quarter. Eventide Asset Management LLC now owns 900,000 shares of the biopharmaceutical company’s stock valued at $3,375,000 after buying an additional 34,474 shares during the period. Institutional investors own 34.08% of the company’s stock.
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TRACON Pharmaceuticals Company Profile
TRACON Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics for cancer, wet age-related macular degeneration (wet AMD) and fibrotic diseases. The Company’s research focuses on antibodies that bind to the endoglin receptor, which is essential to angiogenesis (the process of new blood vessel formation) and a contributor to fibrosis (tissue scarring).
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