Zacks: Analysts Anticipate TRACON Pharmaceuticals, Inc. (TCON) Will Post Quarterly Sales of $710,000.00
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.
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.
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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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