Brokerages Anticipate TRACON Pharmaceuticals, Inc. (TCON) Will Announce Quarterly Sales of $7.60 Million
Analysts forecast that TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) will post sales of $7.60 million for the current quarter, according to Zacks. Two analysts have made estimates for TRACON Pharmaceuticals’ earnings, with the highest sales estimate coming in at $7.64 million and the lowest estimate coming in at $7.55 million. TRACON Pharmaceuticals reported sales of $820,000.00 in the same quarter last year, which would suggest a positive year over year growth rate of 826.8%. The business is expected to announce its next quarterly earnings report on Tuesday, November 14th.
On average, analysts expect that TRACON Pharmaceuticals will report full-year sales of $7.60 million for the current financial year, with estimates ranging from $5.00 million to $9.72 million. For the next financial year, analysts expect that the business will report sales of $26.90 million per share, with estimates ranging from $2.69 million to $45.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow TRACON Pharmaceuticals.
TRACON Pharmaceuticals (NASDAQ:TCON) last announced its quarterly earnings data on Tuesday, August 8th. The biopharmaceutical company reported ($0.40) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.52) by $0.12. The company had revenue of $0.63 million during the quarter, compared to the consensus estimate of $0.81 million. TRACON Pharmaceuticals had a negative return on equity of 119.93% and a negative net margin of 963.11%.
Separately, Zacks Investment Research lowered TRACON Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, July 13th.
Shares of TRACON Pharmaceuticals (NASDAQ TCON) traded up 3.39% on Friday, hitting $3.05. The company had a trading volume of 138,154 shares. The stock’s 50-day moving average is $3.40 and its 200 day moving average is $3.40. TRACON Pharmaceuticals has a 52 week low of $2.00 and a 52 week high of $7.30. The company’s market capitalization is $50.80 million.
An institutional investor recently raised its position in TRACON Pharmaceuticals stock. Stifel Financial Corp grew its position in TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) by 1.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 30,200 shares of the biopharmaceutical company’s stock after acquiring an additional 450 shares during the quarter. Stifel Financial Corp owned about 0.19% of TRACON Pharmaceuticals worth $113,000 as of its most recent SEC filing. Institutional investors own 31.65% 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).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for TRACON Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TRACON Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.