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

TRACON Pharmaceuticals (NASDAQ:TCON) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Thursday.

Separately, HC Wainwright reduced their price target on TRACON Pharmaceuticals from $120.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd.

TRACON Pharmaceuticals Stock Performance

Shares of TCON stock opened at $1.43 on Thursday. The stock has a 50 day moving average of $1.50 and a 200 day moving average of $3.42. 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 has a twelve month low of $0.66 and a twelve month high of $14.75.

TRACON Pharmaceuticals (NASDAQ:TCON) last announced its quarterly earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($1.33) earnings per share for the quarter, missing the consensus estimate of ($1.20) by ($0.13). The company had revenue of $0.10 million during the quarter. During the same quarter in the previous year, the company earned ($7.20) earnings per share. On average, research analysts predict that TRACON Pharmaceuticals will post -4 earnings per share for the current fiscal year.

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.