TRACON Pharmaceuticals (NASDAQ:TCON) Share Price Passes Below 200-Day Moving Average of $4.04

TRACON Pharmaceuticals, Inc. (NASDAQ:TCON)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.04 and traded as low as $1.72. TRACON Pharmaceuticals shares last traded at $1.81, with a volume of 144,773 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TCON shares. StockNews.com started coverage on TRACON Pharmaceuticals in a research note on Tuesday, April 16th. They issued a “strong-buy” rating for the company. HC Wainwright decreased their price objective on TRACON Pharmaceuticals from $120.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, April 3rd.

TRACON Pharmaceuticals Price Performance

The company has a 50-day moving average price of $4.79 and a 200 day moving average price of $4.02. The firm has a market capitalization of $4.24 million, a PE ratio of -0.36 and a beta of 1.28.

TRACON Pharmaceuticals (NASDAQ:TCON) last announced its quarterly earnings results on Tuesday, March 5th. The biopharmaceutical company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.60) by $0.80. The company had revenue of $3.41 million during the quarter, compared to the consensus estimate of $3.00 million. As a group, research analysts anticipate that TRACON Pharmaceuticals, Inc. will post -4 earnings per share for the current year.

TRACON Pharmaceuticals Company Profile

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.