-$0.32 Earnings Per Share Expected for TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) This Quarter

Wall Street analysts forecast that TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) will post earnings of ($0.32) per share for the current quarter, Zacks reports. Zero analysts have provided estimates for TRACON Pharmaceuticals’ earnings. TRACON Pharmaceuticals reported earnings of ($0.38) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 15.8%. The company is scheduled to issue its next earnings results on Tuesday, November 9th.

On average, analysts expect that TRACON Pharmaceuticals will report full-year earnings of ($1.53) per share for the current fiscal year, with EPS estimates ranging from ($1.54) to ($1.52). For the next financial year, analysts forecast that the business will report earnings of ($1.48) per share, with EPS estimates ranging from ($1.53) to ($1.42). Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow TRACON Pharmaceuticals.

TRACON Pharmaceuticals (NASDAQ:TCON) last issued its earnings results on Wednesday, August 11th. The biopharmaceutical company reported ($0.58) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.24).

A number of equities analysts recently issued reports on the company. Alliance Global Partners initiated coverage on TRACON Pharmaceuticals in a report on Friday, June 4th. They issued a “buy” rating and a $13.00 price objective for the company. HC Wainwright reissued a “buy” rating on shares of TRACON Pharmaceuticals in a research note on Thursday, August 12th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $14.80.

In other news, Director Saundra L. Pelletier purchased 6,545 shares of TRACON Pharmaceuticals stock in a transaction dated Monday, July 26th. The shares were bought at an average cost of $3.82 per share, with a total value of $25,001.90. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 23.30% of the stock is currently owned by company insiders.

Several institutional investors have recently modified their holdings of TCON. State Street Corp acquired a new position in TRACON Pharmaceuticals in the 2nd quarter valued at approximately $473,000. Renaissance Technologies LLC boosted its stake in TRACON Pharmaceuticals by 42.3% during the first quarter. Renaissance Technologies LLC now owns 240,600 shares of the biopharmaceutical company’s stock worth $1,980,000 after acquiring an additional 71,500 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in shares of TRACON Pharmaceuticals in the second quarter valued at $372,000. QS Investors LLC bought a new position in shares of TRACON Pharmaceuticals during the first quarter valued at about $360,000. Finally, Telemetry Investments L.L.C. bought a new position in shares of TRACON Pharmaceuticals during the second quarter valued at about $260,000. 46.40% of the stock is owned by institutional investors.

Shares of NASDAQ:TCON traded down $0.15 during trading on Tuesday, hitting $3.70. 82,137 shares of the company traded hands, compared to its average volume of 319,601. The stock has a market capitalization of $71.89 million, a price-to-earnings ratio of -2.31 and a beta of 1.88. The business’s fifty day moving average is $4.14 and its 200-day moving average is $6.22. TRACON Pharmaceuticals has a one year low of $3.21 and a one year high of $12.20.

About TRACON Pharmaceuticals

TRACON Pharmaceuticals, Inc engages in the development and commercialization of targeted therapies for cancer, ophthalmic, and fibrotic diseases. Its products include TRC105, an anti-endoglin antibody for the treatment of solid tumor types; TRC205 created for the treatment of fibrotic diseases; and TRC102, a small molecule that is in clinical development made for lung cancer and glioblastoma.

Read More: What are the advantages to having securities held in street name?

Get a free copy of the Zacks research report on TRACON Pharmaceuticals (TCON)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for TRACON Pharmaceuticals (NASDAQ:TCON)

Receive News & Ratings for TRACON Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TRACON Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.