TRACON Pharmaceuticals (TCON) Earning Somewhat Positive Press Coverage, Accern Reports

Press coverage about TRACON Pharmaceuticals (NASDAQ:TCON) has trended somewhat positive on Tuesday, according to Accern Sentiment Analysis. The research firm scores the sentiment of news coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. TRACON Pharmaceuticals earned a media sentiment score of 0.12 on Accern’s scale. Accern also assigned media coverage about the biopharmaceutical company an impact score of 45.0337466459257 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Several equities analysts recently weighed in on TCON shares. Stifel Nicolaus reduced their target price on shares of TRACON Pharmaceuticals from $14.00 to $6.00 and set a “buy” rating on the stock in a report on Tuesday, June 13th. Zacks Investment Research upgraded shares of TRACON Pharmaceuticals from a “sell” rating to a “hold” rating and set a $2.50 target price on the stock in a report on Saturday, August 12th.

TRACON Pharmaceuticals (NASDAQ TCON) traded up 0.67% during trading on Tuesday, hitting $3.75. 62,325 shares of the company traded hands. The firm has a 50 day moving average of $3.52 and a 200 day moving average of $3.60. TRACON Pharmaceuticals has a one year low of $3.35 and a one year high of $7.10. The firm’s market cap is $62.46 million.

TRACON Pharmaceuticals (NASDAQ:TCON) last announced its quarterly earnings results on Tuesday, August 8th. The biopharmaceutical company reported ($0.40) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.12. TRACON Pharmaceuticals had a negative net margin of 963.11% and a negative return on equity of 119.93%. The company had revenue of $0.63 million for the quarter, compared to analyst estimates of $0.81 million. On average, analysts expect that TRACON Pharmaceuticals will post ($1.57) earnings per share for the current fiscal year.

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About TRACON Pharmaceuticals

TRACON Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company 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).

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