Shares of Tracon Pharmaceuticals Inc. (NASDAQ:TCON) gapped up prior to trading 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 changing hands.

Separately, BTIG Research began coverage on Tracon Pharmaceuticals in a research report on Friday. They issued a “buy” rating and a $15.00 target price for the company.

The company’s market capitalization is $78.10 million. The firm has a 50 day moving average price of $5.21 and a 200-day moving average price of $6.27.

Tracon Pharmaceuticals (NASDAQ:TCON) last released its quarterly earnings data on Wednesday, August 10th. The biopharmaceutical company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.62) by $0.06. Equities analysts predict that Tracon Pharmaceuticals Inc. will post ($2.50) 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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