Stocks of TRACON Pharmaceuticals Inc. (NASDAQ:TCON) traded higher last session on Wall Street, up 14.06% to $0.37.
According to the data, TRACON Pharmaceuticals Inc. (NASDAQ:TCON) has 4 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $12.00 and a low of $3.00, we find $6.00. Given the previous closing price of $0.32, this indicates a potential upside of 1775.0 percent. TCON stock price is now -12.74% away from the 50-day moving average and -69.98% away from the 200-day moving average. The market capitalization of the company currently stands at $9.15M.
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A total of 0 analysts have issued a hold rating and 3 have given it a buy rating. Brokers who have rated the stock have averaged $6.75 as their price target over the next twelve months.
With the price target maintained at $14, BTIG Research recently Upgraded its rating from Neutral to Buy for TRACON Pharmaceuticals Inc. (NASDAQ: TCON).
In other news, THEUER CHARLES, President and CEO bought 47,000 shares of the company’s stock on Apr 27. The stock was bought for $35,250 at an average price of $0.75. Upon completion of the transaction, the President and CEO now directly owns 399,417 shares in the company, valued at $0.15 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Apr 26, President and CEO THEUER CHARLES bought 3,999 shares of the business’s stock. A total of $2,639 was incurred on buying the stock at an average price of $0.66. This leaves the insider owning 352,417 shares of the company worth $0.13 million. Insiders disposed of 1,659 shares of company stock worth roughly $613.83 over the past 1 year. A total of 1.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TCON stock. A new stake in TRACON Pharmaceuticals Inc. shares was purchased by SUSQUEHANNA INTERNATIONAL GROUP, LLP during the first quarter worth $14,000. VIRTU FINANCIAL LLC invested $9,000 in shares of TCON during the first quarter. In the first quarter, CHARLES SCHWAB INVESTMENT MANAGEMENT INC acquired a new stake in TRACON Pharmaceuticals Inc. valued at approximately $7,000. JANE STREET GROUP, LLC acquired a new stake in TCON for approximately $6,000. MILLENNIUM MANAGEMENT LLC purchased a new stake in TCON valued at around $4,000 in the second quarter.
During the past 12 months, TRACON Pharmaceuticals Inc. has had a low of $0.26 and a high of $2.32. The fifty day moving average price for TCON is $0.4180 and a two-hundred day moving average price translates $1.2226 for the stock.
According to the Biotechnology Company, earnings per share came in at -$0.36, missing analysts’ expectations of -$0.26 by -0.1. This compares to -$0.48 EPS in the same period last year. The company reported revenue of $7.31 million for the quarter, compared to $9.45 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -22.58 percent. For the current quarter, analysts expect TCON to generate $2.25M in revenue.
