Brokerages Expect TRACON Pharmaceuticals Inc (TCON) to Post -$0.27 EPS

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Wall Street analysts predict that TRACON Pharmaceuticals Inc (NASDAQ:TCON) will announce ($0.27) earnings per share for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for TRACON Pharmaceuticals’ earnings. The highest EPS estimate is ($0.19) and the lowest is ($0.34). TRACON Pharmaceuticals posted earnings of $0.07 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 485.7%. The firm is scheduled to issue its next earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that TRACON Pharmaceuticals will report full year earnings of ($1.23) per share for the current year, with EPS estimates ranging from ($1.38) to ($1.08). For the next financial year, analysts forecast that the company will post earnings of ($0.35) per share, with EPS estimates ranging from ($0.42) to ($0.27). Zacks’ earnings per share averages are a mean average based on a survey of research analysts that follow TRACON Pharmaceuticals.

TRACON Pharmaceuticals (NASDAQ:TCON) last announced its quarterly earnings results on Wednesday, August 8th. The biopharmaceutical company reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.31) by ($0.02).

Separately, Zacks Investment Research cut TRACON Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th.

Shares of NASDAQ TCON traded down $0.06 during trading hours on Friday, hitting $1.53. The stock had a trading volume of 2,767 shares, compared to its average volume of 98,223. The stock has a market cap of $48.04 million, a price-to-earnings ratio of -1.33 and a beta of 1.87. TRACON Pharmaceuticals has a 52 week low of $1.59 and a 52 week high of $3.60. The company has a debt-to-equity ratio of 0.17, a quick ratio of 4.84 and a current ratio of 4.84.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. 683 Capital Management LLC grew its stake in shares of TRACON Pharmaceuticals by 82.6% in the 2nd quarter. 683 Capital Management LLC now owns 2,738,938 shares of the biopharmaceutical company’s stock valued at $7,073,000 after buying an additional 1,238,938 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of TRACON Pharmaceuticals by 40.7% in the 2nd quarter. Renaissance Technologies LLC now owns 719,900 shares of the biopharmaceutical company’s stock valued at $1,944,000 after buying an additional 208,300 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of TRACON Pharmaceuticals by 368.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 76,999 shares of the biopharmaceutical company’s stock valued at $208,000 after buying an additional 60,574 shares in the last quarter. 56.40% of the stock is owned by institutional investors and hedge funds.

TRACON Pharmaceuticals Company Profile

TRACON Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for cancer, wet age-related macular degeneration (AMD), and fibrotic diseases. Its lead product candidate is TRC105, an endoglin antibody, which is in Phase III clinical trials for angiosarcoma; randomized Phase II clinical trials for renal cell carcinoma; Phase II clinical trials for gestational trophoblastic neoplasia; Phase I/II clinical trials for hepatocellular carcinoma; Phase I clinical trial for lung cancer; Phase I/II clinical trials for breast cancer; Phase II clinical trials for prostate cancer; and randomized Phase II clinical trials for wet AMD.

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Earnings History and Estimates for TRACON Pharmaceuticals (NASDAQ:TCON)

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