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

StockNews.com cut shares of TRACON Pharmaceuticals (NASDAQ:TCON) from a buy rating to a hold rating in a report released on Thursday morning.

Separately, HC Wainwright dropped their target price on shares of 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 Price Performance

NASDAQ TCON opened at $1.60 on Thursday. TRACON Pharmaceuticals has a 12 month low of $0.66 and a 12 month high of $14.75. The company has a 50-day moving average of $1.50 and a 200-day moving average of $3.42. The company has a market cap of $4.29 million, a P/E ratio of 2.39 and a beta of 1.25.

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

TRACON Pharmaceuticals Dividend Announcement

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

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.