ValuEngine upgraded shares of TRACON Pharmaceuticals (NASDAQ:TCON) from a hold rating to a buy rating in a research report report published on Tuesday morning, ValuEngine reports.

A number of other equities research analysts have also recently issued reports on the stock. HC Wainwright reissued a buy rating and issued a $2.00 price target on shares of TRACON Pharmaceuticals in a research note on Thursday, November 7th. Zacks Investment Research upgraded shares of TRACON Pharmaceuticals from a sell rating to a hold rating in a research report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $4.88.

Shares of TRACON Pharmaceuticals stock opened at $3.51 on Tuesday. The firm has a market cap of $11.00 million, a PE ratio of -0.27 and a beta of 2.24. TRACON Pharmaceuticals has a twelve month low of $2.78 and a twelve month high of $17.30. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.84. The business has a 50-day moving average price of $1.90 and a 200 day moving average price of $0.89.

TRACON Pharmaceuticals (NASDAQ:TCON) last issued its quarterly earnings data on Tuesday, November 5th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.03. On average, sell-side analysts expect that TRACON Pharmaceuticals will post -7.74 EPS for the current year.

Large investors have recently bought and sold shares of the business. Susquehanna International Group LLP acquired a new position in shares of TRACON Pharmaceuticals during the second quarter valued at approximately $26,000. Wedbush Securities Inc. acquired a new stake in shares of TRACON Pharmaceuticals in the second quarter worth approximately $32,000. Finally, Renaissance Technologies LLC boosted its stake in shares of TRACON Pharmaceuticals by 17.5% in the second quarter. Renaissance Technologies LLC now owns 1,209,203 shares of the biopharmaceutical company’s stock worth $822,000 after acquiring an additional 179,718 shares during the last quarter.

TRACON Pharmaceuticals Company Profile

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

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