TRACON Pharmaceuticals Inc (NASDAQ:TCON) – Equities researchers at Jefferies Group raised their Q3 2017 earnings estimates for shares of TRACON Pharmaceuticals in a research note issued to investors on Thursday. Jefferies Group analyst M. Raycroft now anticipates that the biopharmaceutical company will post earnings per share of ($0.10) for the quarter, up from their prior estimate of ($0.42). Jefferies Group also issued estimates for TRACON Pharmaceuticals’ Q4 2017 earnings at ($0.44) EPS, FY2017 earnings at ($1.35) EPS, FY2018 earnings at $0.19 EPS, FY2020 earnings at ($1.38) EPS and FY2021 earnings at ($0.99) EPS.

Several other brokerages have also recently issued reports on TCON. Zacks Investment Research cut TRACON Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, May 3rd. Stifel Nicolaus cut their price target on TRACON Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, June 13th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. TRACON Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $8.88.

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TRACON Pharmaceuticals (TCON) opened at 2.25 on Monday. The stock has a 50 day moving average price of $2.25 and a 200-day moving average price of $3.30. TRACON Pharmaceuticals has a one year low of $2.00 and a one year high of $7.30. The firm’s market capitalization is $37.37 million.

TRACON Pharmaceuticals (NASDAQ:TCON) last posted its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.40) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.12. The firm had revenue of $0.63 million during the quarter, compared to analysts’ expectations of $0.81 million. TRACON Pharmaceuticals had a negative return on equity of 111.71% and a negative net margin of 1,141.69%.

Several large investors have recently modified their holdings of the stock. Eventide Asset Management LLC boosted its stake 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. Renaissance Technologies LLC boosted its stake in shares of 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, 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 valued at $113,000 after buying an additional 450 shares during the period. Institutional investors and hedge funds own 33.22% of the company’s stock.

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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