Tracon Pharmaceuticals Inc. (TCON) Trading Down 8.4%
Tracon Pharmaceuticals Inc. (NASDAQ:TCON) was down 8.4% during mid-day trading on Tuesday . The stock traded as low as $4.00 and last traded at $4.12, with a volume of 144,945 shares trading hands. The stock had previously closed at $4.50.
Separately, Zacks Investment Research lowered Tracon Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Wednesday, April 20th.
The stock’s 50 day moving average is $5.83 and its 200-day moving average is $7.00. The firm’s market capitalization is $60.89 million.
Tracon Pharmaceuticals (NASDAQ:TCON) last announced its quarterly earnings results on Wednesday, May 11th. The biopharmaceutical company reported ($0.54) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.70) by $0.16. On average, equities research analysts expect that Tracon Pharmaceuticals Inc. will post ($2.55) EPS for the current fiscal year.
TRACON Pharmaceuticals, Inc (TRACON) is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics for cancer, age-related macular degeneration (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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