TRACON Pharmaceuticals, Inc. (TCON) Expected to Post Quarterly Sales of $810,000.00
Wall Street brokerages expect that TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) will announce sales of $810,000.00 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for TRACON Pharmaceuticals’ earnings. The lowest sales estimate is $640,000.00 and the highest is $980,000.00. TRACON Pharmaceuticals also posted sales of $810,000.00 during the same quarter last year. The firm is scheduled to announce its next earnings results after the market closes on Tuesday, August 8th.
On average, analysts expect that TRACON Pharmaceuticals will report full-year sales of $810,000.00 for the current financial year, with estimates ranging from $2.58 million to $7.00 million. For the next fiscal year, analysts expect that the company will post sales of $26.90 million per share, with estimates ranging from $2.71 million to $45.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover TRACON Pharmaceuticals.
TRACON Pharmaceuticals (NASDAQ:TCON) last posted its quarterly earnings data on Wednesday, May 10th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $0.63 million during the quarter, compared to analysts’ expectations of $0.92 million.
A number of brokerages have recently issued reports on TCON. Stifel Nicolaus reduced their price objective on shares of TRACON Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, June 13th. Zacks Investment Research cut shares of TRACON Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $8.88.
Several large investors have recently made changes to their positions in TCON. Stifel Financial Corp boosted its stake in shares of TRACON Pharmaceuticals by 1.5% in the first quarter. Stifel Financial Corp now owns 30,200 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 450 shares during the period. Renaissance Technologies LLC boosted its stake in shares of TRACON Pharmaceuticals by 181.8% in the fourth quarter. Renaissance Technologies LLC now owns 40,300 shares of the biopharmaceutical company’s stock valued at $197,000 after buying an additional 26,000 shares during the last quarter. Finally, Eventide Asset Management LLC raised its position in shares of 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. 33.22% of the stock is owned by institutional investors.
Shares of TRACON Pharmaceuticals (TCON) opened at 2.10 on Tuesday. The company’s market cap is $34.88 million. The firm’s 50 day moving average is $2.24 and its 200 day moving average is $3.44. TRACON Pharmaceuticals has a 12 month low of $2.00 and a 12 month high of $7.30.
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About TRACON Pharmaceuticals
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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