According to Zacks, “TRACON Pharmaceuticals, Inc. is a biopharmaceutical company. The company’s product candidate includes TRC105, TRC205 and TRC102 which are in different clinical stage for cancer, age-related macular degeneration and fibrotic diseases. TRACON Pharmaceuticals, Inc. is headquartered in San Diego, California. “
Other research analysts have also recently issued research reports about the company. Needham & Company LLC reiterated a buy rating and set a $7.00 price objective on shares of TRACON Pharmaceuticals in a research note on Friday, March 1st. BTIG Research cut TRACON Pharmaceuticals from a buy rating to a neutral rating in a research note on Friday, April 12th.
TRACON Pharmaceuticals (NASDAQ:TCON) last announced its quarterly earnings data on Tuesday, May 14th. The biopharmaceutical company reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.03). As a group, research analysts expect that TRACON Pharmaceuticals will post -0.86 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in the business. Nicolet Advisory Services LLC purchased a new position in TRACON Pharmaceuticals during the first quarter valued at $49,000. Renaissance Technologies LLC raised its stake in TRACON Pharmaceuticals by 12.3% during the third quarter. Renaissance Technologies LLC now owns 808,100 shares of the biopharmaceutical company’s stock valued at $1,657,000 after buying an additional 88,200 shares during the last quarter. Finally, Telemetry Investments L.L.C. raised its stake in TRACON Pharmaceuticals by 153.5% during the fourth quarter. Telemetry Investments L.L.C. now owns 966,975 shares of the biopharmaceutical company’s stock valued at $609,000 after buying an additional 585,566 shares during the last quarter. Institutional investors and hedge funds own 58.04% of the company’s stock.
About TRACON Pharmaceuticals
TRACON Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of therapeutics for cancer and wet age-related macular degeneration (AMD). Its lead product candidate is TRC105, an endoglin antibody, which is in randomized Phase III clinical trial for angiosarcoma; Phase I/II clinical trial for hepatocellular carcinoma; Phase I clinical trial for lung cancer; Phase I/II clinical trial for breast cancer; Phase II clinical trials for prostate cancer; and randomized Phase II clinical trial for wet AMD.
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