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).
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.
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