TRACON Pharmaceuticals (NASDAQ:TCON) Stock Price Crosses Above 50 Day Moving Average of $1.53

TRACON Pharmaceuticals, Inc. (NASDAQ:TCON)’s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.53 and traded as high as $1.54. TRACON Pharmaceuticals shares last traded at $1.45, with a volume of 86,170 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. HC Wainwright lowered their price target on TRACON Pharmaceuticals from $120.00 to $60.00 and set a “buy” rating for the company in a report on Wednesday, April 3rd. StockNews.com upgraded TRACON Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th.

TRACON Pharmaceuticals Stock Down 2.7 %

The firm has a market capitalization of $3.89 million, a P/E ratio of 2.16 and a beta of 1.25. The stock has a fifty day moving average of $1.53 and a 200-day moving average of $3.45.

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

TRACON Pharmaceuticals Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 28th will be given a $0.045 dividend. The ex-dividend date is Thursday, June 27th. This represents a dividend yield of 40.3%.

About TRACON Pharmaceuticals

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.