Tracon Pharmaceuticals Inc. (NASDAQ:TCON) shot up 10% during mid-day trading on Wednesday . The company traded as high as $4.90 and last traded at $4.61, with a volume of 76,476 shares changing hands. The stock had previously closed at $4.19.

Separately, Zacks Investment Research cut shares of Tracon Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, April 20th.

The stock’s 50 day moving average price is $5.78 and its 200 day moving average price is $6.98. The firm’s market cap is $58.45 million.

Tracon Pharmaceuticals (NASDAQ:TCON) last issued its earnings results on Wednesday, May 11th. The biopharmaceutical company reported ($0.54) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.70) by $0.16. Equities analysts forecast that Tracon Pharmaceuticals Inc. will post ($2.55) earnings per share 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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