Shares of Tracon Pharmaceuticals Inc. (NASDAQ:TCON) gapped up before the market opened on Friday . The stock had previously closed at $5.83, but opened at $5.87. Tracon Pharmaceuticals shares last traded at $6.44, with a volume of 27,107 shares.

Separately, BTIG Research assumed coverage on shares of Tracon Pharmaceuticals in a report on Friday. They set a “buy” rating and a $15.00 price objective for the company.

The company’s market capitalization is $78.10 million. The company’s 50-day moving average is $5.21 and its 200-day moving average is $6.27.

Tracon Pharmaceuticals (NASDAQ:TCON) last announced its earnings results on Wednesday, August 10th. The biopharmaceutical company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.62) by $0.06. On average, equities analysts predict that Tracon Pharmaceuticals Inc. will post ($2.50) earnings per share for the current 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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