TRACON Pharmaceuticals (NASDAQ:TCON) Downgraded to Hold at StockNews.com

TRACON Pharmaceuticals (NASDAQ:TCON) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Separately, HC Wainwright dropped their target price on shares of TRACON Pharmaceuticals from $120.00 to $60.00 and set a “buy” rating on the stock in a report on Wednesday, April 3rd.

TRACON Pharmaceuticals Stock Performance

Shares of NASDAQ:TCON traded down $0.02 during trading on Thursday, reaching $1.43. 381,545 shares of the stock traded hands, compared to its average volume of 189,458. The stock has a 50-day moving average of $1.51 and a two-hundred day moving average of $3.44. TRACON Pharmaceuticals has a 52-week low of $0.66 and a 52-week high of $14.75. The stock has a market cap of $3.83 million, a P/E ratio of 2.13 and a beta of 1.25.

TRACON Pharmaceuticals (NASDAQ:TCON) last posted its quarterly earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.13). The firm had revenue of $0.10 million for the quarter. During the same quarter in the previous year, the business earned ($7.20) EPS. Sell-side analysts expect that TRACON Pharmaceuticals will post -4 earnings per share for the current year.

TRACON Pharmaceuticals Company Profile

TRACON Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel targeted therapeutics for cancer in the United States. Its clinical stage products include envafolimab (KN035), a PD-L1 single-domain antibody for the treatment of refractory soft tissue sarcoma; and YH001, an investigational humanized cytotoxic T-lymphocyte-associated protein 4 IgG1 monoclonal antibody that is in Phase I clinical trial for the treatment of various cancer indications.