Equities research analysts expect TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) to announce sales of $710,000.00 for the current quarter, Zacks reports. Two analysts have provided estimates for TRACON Pharmaceuticals’ earnings, with the lowest sales estimate coming in at $510,000.00 and the highest estimate coming in at $910,000.00. TRACON Pharmaceuticals reported sales of $620,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.5%. The firm is scheduled to announce its next earnings results on Tuesday, February 27th.

According to Zacks, analysts expect that TRACON Pharmaceuticals will report full year sales of $710,000.00 for the current fiscal year, with estimates ranging from $9.26 million to $11.00 million. For the next financial year, analysts anticipate that the business will report sales of $26.79 million per share, with estimates ranging from $2.38 million to $45.00 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for TRACON Pharmaceuticals.

TRACON Pharmaceuticals (NASDAQ:TCON) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.07 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.32. TRACON Pharmaceuticals had a negative net margin of 201.21% and a negative return on equity of 83.43%. The company had revenue of $7.50 million during the quarter, compared to analysts’ expectations of $7.60 million.

Separately, Zacks Investment Research raised shares of TRACON Pharmaceuticals from a “sell” rating to a “hold” rating and set a $2.50 price objective for the company in a research note on Saturday, August 12th.

An institutional investor recently raised its position in TRACON Pharmaceuticals stock. Renaissance Technologies LLC lifted its holdings in shares of TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) by 56.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,200 shares of the biopharmaceutical company’s stock after purchasing an additional 22,900 shares during the period. Renaissance Technologies LLC owned about 0.39% of TRACON Pharmaceuticals worth $237,000 as of its most recent SEC filing. Institutional investors and hedge funds own 34.28% of the company’s stock.

TRACON Pharmaceuticals (TCON) opened at $2.70 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.80 and a current ratio of 3.80. TRACON Pharmaceuticals has a 12 month low of $2.00 and a 12 month high of $6.25.

TRADEMARK VIOLATION WARNING: “Zacks: Analysts Anticipate TRACON Pharmaceuticals, Inc. (TCON) Will Post Quarterly Sales of $710,000.00” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of United States & international trademark & copyright legislation. The legal version of this piece of content can be read at https://www.americanbankingnews.com/2017/11/29/zacks-analysts-anticipate-tracon-pharmaceuticals-inc-tcon-will-post-quarterly-sales-of-710000-00.html.

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).

Get a free copy of the Zacks research report on TRACON Pharmaceuticals (TCON)

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.