-$0.53 Earnings Per Share Expected for TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) This Quarter
Brokerages expect TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) to announce earnings per share (EPS) of ($0.53) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for TRACON Pharmaceuticals’ earnings. The lowest EPS estimate is ($0.66) and the highest is ($0.45). TRACON Pharmaceuticals posted earnings of ($0.68) per share in the same quarter last year, which suggests a positive year over year growth rate of 22.1%. The business is expected to issue its next quarterly earnings report after the market closes on Tuesday, August 8th.
According to Zacks, analysts expect that TRACON Pharmaceuticals will report full-year earnings of ($1.95) per share for the current year, with EPS estimates ranging from ($2.41) to ($1.68). For the next fiscal year, analysts forecast that the firm will post earnings of ($1.05) per share, with EPS estimates ranging from ($1.96) to $0.10. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover TRACON Pharmaceuticals.
TRACON Pharmaceuticals (NASDAQ:TCON) last posted its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($0.44) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.03. TRACON Pharmaceuticals had a negative net margin of 964.36% and a negative return on equity of 126.77%. The business had revenue of $0.63 million during the quarter, compared to analysts’ expectations of $0.92 million.
A number of research firms recently issued reports on TCON. Zacks Investment Research downgraded shares of TRACON Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Stifel Nicolaus lowered their target price on shares of TRACON Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. TRACON Pharmaceuticals presently has an average rating of “Hold” and a consensus price target of $8.88.
Shares of TRACON Pharmaceuticals (NASDAQ TCON) opened at 2.20 on Friday. The stock’s market cap is $36.54 million. The stock has a 50 day moving average of $2.24 and a 200 day moving average of $3.41. TRACON Pharmaceuticals has a 1-year low of $2.00 and a 1-year high of $7.30.
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A number of large investors have recently added to or reduced their stakes in the stock. Eventide Asset Management LLC increased its stake in TRACON Pharmaceuticals by 4.0% in the first quarter. Eventide Asset Management LLC now owns 900,000 shares of the biopharmaceutical company’s stock worth $3,375,000 after buying an additional 34,474 shares during the last quarter. Renaissance Technologies LLC increased its stake in TRACON Pharmaceuticals by 56.8% in the first quarter. Renaissance Technologies LLC now owns 63,200 shares of the biopharmaceutical company’s stock worth $237,000 after buying an additional 22,900 shares during the last quarter. Finally, Stifel Financial Corp increased its stake in TRACON Pharmaceuticals by 1.5% in the first quarter. Stifel Financial Corp now owns 30,200 shares of the biopharmaceutical company’s stock worth $113,000 after buying an additional 450 shares during the last quarter. Hedge funds and other institutional investors own 33.22% of the company’s stock.
TRACON Pharmaceuticals Company Profile
TRACON Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics for cancer, wet age-related macular degeneration (wet 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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