TRACON Pharmaceuticals (NASDAQ:TCON) Downgraded by StockNews.com to Hold

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

Separately, HC Wainwright reduced 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 Stock Up 11.9 %

NASDAQ TCON opened at $1.60 on Thursday. The stock’s 50-day simple moving average is $1.50 and its two-hundred day simple moving average is $3.42. TRACON Pharmaceuticals has a twelve month low of $0.66 and a twelve month high of $14.75. The company has a market capitalization of $4.29 million, a price-to-earnings ratio of 2.39 and a beta of 1.25.

TRACON Pharmaceuticals (NASDAQ:TCON) last announced its quarterly earnings data on Tuesday, May 14th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.13). The firm had revenue of $0.10 million during the quarter. During the same quarter in the previous year, the company earned ($7.20) EPS. On average, equities analysts expect that TRACON Pharmaceuticals will post -4 earnings per share for the current fiscal year.

TRACON Pharmaceuticals Announces Dividend

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

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.