H.C. Wainwright slashes price target on TRACON Pharmaceuticals Inc. [TCON] – find out why.

TRACON Pharmaceuticals Inc. [NASDAQ: TCON] gained 2.28% on the last trading session, reaching $5.39 price per share at the time. The company report on September 10, 2020 that TRACON Pharmaceuticals to Present at the H.C. Wainwright 22nd Annual Global Investment Conference.

TRACON Pharmaceuticals (Nasdaq: TCON), a clinical stage biopharmaceutical company focused on the development and commercialization of novel targeted cancer therapeutics and utilizing a cost efficient, CRO-independent product development platform to partner with ex-U.S. companies to develop and commercialize innovative products in the U.S., announced today that Charles Theuer, M.D., Ph.D., President and CEO, will present a corporate overview at the H.C. Wainwright 22nd Annual Global Investment Conference on Wednesday, September 16th, at 12:00 pm EDT.

To access a live webcast of the presentation, please visit the “Events and Presentations” page within the “Investors” section of the TRACON Pharmaceuticals website at www.traconpharma.com. A replay of the webcast will also be available following the event.

TRACON Pharmaceuticals Inc. represents 6.39 million in outstanding shares, while the company has a total market value of $64.73 million with the latest information. TCON stock price has been found in the range of $4.86 to $5.70.

If compared to the average trading volume of 1.46M shares, TCON reached a trading volume of 1984016 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about TRACON Pharmaceuticals Inc. [TCON]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TCON shares is $4.33 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TCON stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for TRACON Pharmaceuticals Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 23, 2019. While these analysts kept the previous recommendation, Needham raised their target price to Buy. The new note on the price target was released on March 01, 2019, representing the official price target for TRACON Pharmaceuticals Inc. stock. Previously, the target price had yet another drop from $14 to $6, while Stifel kept a Buy rating on TCON stock.

The Average True Range (ATR) for TRACON Pharmaceuticals Inc. is set at 0.52 The Price to Book ratio for the last quarter was 11.47.

Trading performance analysis for TCON stock

TRACON Pharmaceuticals Inc. [TCON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 27.42. With this latest performance, TCON shares gained by 234.78% in over the last four-week period, additionally plugging by 368.70% over the last 6 months – not to mention a rise of 17.15% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TCON stock in for the last two-week period is set at 82.20, with the RSI for the last a single of trading hit 83.41, and the three-weeks RSI is set at 80.46 for TRACON Pharmaceuticals Inc. [TCON]. The present Moving Average for the last 50 days of trading for this stock 2.29, while it was recorded at 4.84 for the last single week of trading, and 2.41 for the last 200 days.

TRACON Pharmaceuticals Inc. [TCON]: A deeper dive into fundamental analysis

Return on Total Capital for TCON is now -121.06, given the latest momentum, and Return on Invested Capital for the company is -138.29. Return on Equity for this stock declined to -187.85, with Return on Assets sitting at -77.16. When it comes to the capital structure of this company, TRACON Pharmaceuticals Inc. [TCON] has a Total Debt to Total Equity ratio set at 232.32. Additionally, TCON Total Debt to Total Capital is recorded at 69.91, with Total Debt to Total Assets ending up at 34.59. Long-Term Debt to Equity for the company is recorded at 122.65, with the Long-Term Debt to Total Capital now at 36.91.

Reflecting on the efficiency of the workforce at the company, TRACON Pharmaceuticals Inc. [TCON] managed to generate an average of -$1,193,368 per employee.TRACON Pharmaceuticals Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.

TRACON Pharmaceuticals Inc. [TCON]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, TRACON Pharmaceuticals Inc. posted -1.7/share EPS, while the average EPS was predicted by analysts to be reported at -2.05/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 17.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TCON.

An analysis of insider ownership at TRACON Pharmaceuticals Inc. [TCON]

There are presently around $8 million, or 14.60% of TCON stock, in the hands of institutional investors. The top three institutional holders of TCON stocks are: NEA MANAGEMENT COMPANY, LLC with ownership of 346,718, which is approximately 0% of the company’s market cap and around 1.60% of the total institutional ownership; LINDEN ADVISORS LP, holding 284,248 shares of the stock with an approximate value of $1.53 million in TCON stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $1.5 million in TCON stock with ownership of nearly 19.707% of the company’s market capitalization.

Positions in TRACON Pharmaceuticals Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 11 institutional holders increased their position in TRACON Pharmaceuticals Inc. [NASDAQ:TCON] by around 348,948 shares. Additionally, 4 investors decreased positions by around 61,272 shares, while 7 investors held positions by with 1,143,727 shares. The mentioned changes placed institutional holdings at 1,553,947 shares, according to the latest SEC report filing. TCON stock had 3 new institutional investments in for a total of 89,123 shares, while 3 institutional investors sold positions of 53,008 shares during the same period.

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