TRACON Pharmaceuticals (NASDAQ:TCON) released its earnings results on Wednesday. The biopharmaceutical company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02), Bloomberg Earnings reports.
Shares of NASDAQ TCON opened at $0.42 on Friday. The company has a market cap of $12.41 million, a P/E ratio of -0.32 and a beta of 2.45. TRACON Pharmaceuticals has a 12-month low of $0.41 and a 12-month high of $2.35. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.32. The business has a 50 day moving average of $0.58.
TCON has been the topic of several recent research reports. BTIG Research downgraded TRACON Pharmaceuticals from a “buy” rating to a “neutral” rating in a report on Friday, April 12th. Zacks Investment Research downgraded TRACON Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Saturday, May 18th.
An institutional investor recently bought a new position in TRACON Pharmaceuticals stock. Wedbush Securities Inc. acquired a new stake in shares of TRACON Pharmaceuticals Inc (NASDAQ:TCON) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 47,500 shares of the biopharmaceutical company’s stock, valued at approximately $32,000. Wedbush Securities Inc. owned about 0.16% of TRACON Pharmaceuticals at the end of the most recent quarter. Hedge funds and other institutional investors own 56.50% 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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