Stock of the Day: What’s Propelling TRACON Pharmaceuticals Inc to Decline So Much?

Stock of the Day: What's Propelling TRACON Pharmaceuticals Inc to Decline So Much?

The stock of TRACON Pharmaceuticals Inc (NASDAQ:TCON) is a huge mover today! The stock decreased 12.41% or $0.85 on November 23, hitting $6. About 214,567 shares traded hands or 777.75% up from the average. TRACON Pharmaceuticals Inc (NASDAQ:TCON) has declined 21.26% since April 22, 2016 and is downtrending. It has underperformed by 26.67% the S&P500.
The move comes after 7 months negative chart setup for the $76.72M company. It was reported on Nov, 24 by Barchart.com. We have $5.64 PT which if reached, will make NASDAQ:TCON worth $4.60M less.

Analysts await TRACON Pharmaceuticals Inc (NASDAQ:TCON) to report earnings on February, 16. They expect $-0.47 EPS, up 48.35% or $0.44 from last year’s $-0.91 per share. After $-0.48 actual EPS reported by TRACON Pharmaceuticals Inc for the previous quarter, Wall Street now forecasts -2.08% EPS growth.

TRACON Pharmaceuticals Inc (NASDAQ:TCON) Ratings Coverage

Out of 3 analysts covering Tracon Pharmaceuticals Inc (NASDAQ:TCON), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. $18 is the highest target while $18 is the lowest. The $18 average target is 200.00% above today’s ($6) stock price. Tracon Pharmaceuticals Inc has been the topic of 3 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Friday, September 4 by Zacks. Roth Capital initiated TRACON Pharmaceuticals Inc (NASDAQ:TCON) rating on Wednesday, July 29. Roth Capital has “Buy” rating and $18 price target. TH Capital initiated TRACON Pharmaceuticals Inc (NASDAQ:TCON) rating on Wednesday, July 29. TH Capital has “Buy” rating and $18 price target.

According to Zacks Investment Research, “TRACON Pharmaceuticals, Inc. is a biopharmaceutical company. The company’s product candidate includes TRC105, TRC205 and TRC102 which are in different clinical stage for cancer, age-related macular degeneration and fibrotic diseases. TRACON Pharmaceuticals, Inc. is headquartered in San Diego, California.”

More notable recent TRACON Pharmaceuticals Inc (NASDAQ:TCON) news were published by: Marketwatch.com which released: “/quotes/zigman/3870025/realtime” on January 30, 2015, also Quotes.Wsj.com with their article: “News TRACON Pharmaceuticals Inc.TCON” published on January 24, 2015, 247Wallst.com published: “Tracon Pharmaceuticals Surges With Positive Study” on September 18, 2015. More interesting news about TRACON Pharmaceuticals Inc (NASDAQ:TCON) were released by: Globenewswire.com and their article: “TRACON Pharmaceuticals Announces IND Filing of DE-122 (TRC105) for the …” published on July 01, 2015 as well as Globenewswire.com‘s news article titled: “TRACON Pharmaceuticals Initiates Dosing in Phase 1b/2 Study of TRC105 in …” with publication date: May 18, 2016.

TCON Company Profile

TRACON Pharmaceuticals, Inc., incorporated on October 28, 2004, is a clinical-stage biopharmaceutical company. The Firm is focused on the development and commercialization of therapeutics for cancer, wet age-related macular degeneration (wet AMD) and fibrotic diseases. The Company’s research focuses on antibodies that bind to the endoglin receptor, which is essential to angiogenesis (the process of new blood vessel formation) and a contributor to fibrosis (tissue scarring). The Company’s lead product candidate, TRC105, is an endoglin antibody that is being developed for the treatment of multiple solid tumor types in combination with inhibitors of the vascular endothelial growth factor (VEGF) pathway. TRC205 is being developed for the treatment of fibrotic disease. The Firm is also developing TRC102, a small molecule that is in clinical development for the treatment of lung cancer and glioblastoma.

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