TRACON Pharmaceuticals (TCON) Rating Lowered to Neutral at BTIG Research

BTIG Research cut shares of TRACON Pharmaceuticals (NASDAQ:TCON) from a buy rating to a neutral rating in a report published on Friday morning, The Fly reports.

TCON has been the topic of a number of other reports. Needham & Company LLC reaffirmed a buy rating and issued a $7.00 price target on shares of TRACON Pharmaceuticals in a research note on Friday, March 1st. Zacks Investment Research raised TRACON Pharmaceuticals from a sell rating to a hold rating in a research note on Saturday, January 5th.

Shares of TRACON Pharmaceuticals stock opened at $0.67 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.01 and a current ratio of 3.01. The company has a market capitalization of $19.80 million, a price-to-earnings ratio of -0.52 and a beta of 3.10. TRACON Pharmaceuticals has a one year low of $0.50 and a one year high of $3.20.

A hedge fund recently raised its stake in TRACON Pharmaceuticals stock. Telemetry Investments L.L.C. grew its holdings in shares of TRACON Pharmaceuticals Inc (NASDAQ:TCON) by 153.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 966,975 shares of the biopharmaceutical company’s stock after buying an additional 585,566 shares during the period. Telemetry Investments L.L.C. owned 3.24% of TRACON Pharmaceuticals worth $609,000 as of its most recent SEC filing. 58.06% of the stock is currently owned by hedge funds and other institutional investors.

About TRACON Pharmaceuticals

TRACON Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for cancer, wet age-related macular degeneration (AMD), and fibrotic diseases. Its lead product candidate is TRC105, an endoglin antibody, which is in Phase III clinical trials for angiosarcoma; randomized Phase II clinical trials for renal cell carcinoma; Phase II clinical trials for gestational trophoblastic neoplasia; Phase I/II clinical trials for hepatocellular carcinoma; Phase I clinical trial for lung cancer; Phase I/II clinical trials for breast cancer; Phase II clinical trials for prostate cancer; and randomized Phase II clinical trials for wet AMD.

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