Could TRACON Pharmaceuticals Inc (TCON) Lose Strenght? The Stock Increases A Lot Today

September 17, 2017 - By Michael Collier

The stock of TRACON Pharmaceuticals Inc (NASDAQ:TCON) is a huge mover today! The stock increased 5.63% or $0.2 on September 15, reaching $3.75. About 190,448 shares traded. TRACON Pharmaceuticals Inc (NASDAQ:TCON) has declined 52.06% since September 17, 2016 and is downtrending. It has underperformed by 68.76% the S&P500.
The move comes after 9 months positive chart setup for the $62.46M company. It was reported on Sep, 17 by Barchart.com. We have $4.01 PT which if reached, will make NASDAQ:TCON worth $4.37M more.

Analysts await TRACON Pharmaceuticals Inc (NASDAQ:TCON) to report earnings on November, 14. They expect $-0.25 earnings per share, up 47.92 % or $0.23 from last year’s $-0.48 per share. After $-0.40 actual earnings per share reported by TRACON Pharmaceuticals Inc for the previous quarter, Wall Street now forecasts -37.50 % EPS growth.

TRACON Pharmaceuticals Inc (NASDAQ:TCON) Ratings Coverage

Among 4 analysts covering Tracon Pharmaceuticals Inc (NASDAQ:TCON), 3 have Buy rating, 0 Sell and 1 Hold. Therefore 75% are positive. Tracon Pharmaceuticals Inc had 4 analyst reports since July 29, 2015 according to SRatingsIntel. On Wednesday, July 29 the stock rating was initiated by Roth Capital with “Buy”. As per Friday, September 4, the company rating was upgraded by Zacks. The rating was initiated by Jefferies with “Buy” on Wednesday, December 21. TH Capital initiated TRACON Pharmaceuticals Inc (NASDAQ:TCON) rating on Wednesday, July 29. TH Capital has “Buy” rating and $18 target.

More notable recent TRACON Pharmaceuticals Inc (NASDAQ:TCON) news were published by: Globenewswire.com which released: “TRACON Pharmaceuticals Announces TRC694 Data Presentation at Upcoming AACR …” on March 27, 2017, also Globenewswire.com with their article: “TRACON Pharmaceuticals Announces Top-line Results from NCI-Sponsored Phase 2 …” published on February 09, 2017, Seekingalpha.com published: “Tracon Pharmaceuticals: An Underdog Can Rise Up” on February 21, 2017. More interesting news about TRACON Pharmaceuticals Inc (NASDAQ:TCON) were released by: Globenewswire.com and their article: “TRACON Pharmaceuticals Announces Closing of Public Offering and Full Exercise …” published on November 29, 2016 as well as Globenewswire.com‘s news article titled: “TRACON Pharmaceuticals to Present at the 29th Annual Roth Conference” with publication date: March 06, 2017.

TRACON Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company. The company has market cap of $62.46 million. The Firm is focused on the development and commercialization of therapeutics for cancer, wet age-related macular degeneration and fibrotic diseases. It currently has negative earnings. 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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