Market Analysts see TRACON Pharmaceuticals Inc. [TCON] gaining to $18. Time to buy?

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TRACON Pharmaceuticals Inc. [NASDAQ: TCON] price surged by 34.66 percent to reach at $1.92. The company report on November 11, 2020 that TRACON Pharmaceuticals Reports Third Quarter 2020 Financial Results and Provides Corporate Update.

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., today announced financial results for the third quarter ended September 30, 2020. The Company will host a conference call and webcast today at 4:30 PM Eastern Time / 1:30 PM Pacific Time.

“We made great progress during the quarter by securing capital from dedicated healthcare funds that extends our runway past expected ENVASARC registration trial interim data and into 2022. We expect to enroll patients at multiple sites in the ENVASARC trial this year and also expect our partners to submit envafolimab for approval in China before the end of the year,” said Charles Theuer, M.D., Ph.D., President and CEO of TRACON. “We are focused on enrolling the ENVASARC trial expeditiously so we may deliver interim data in 2021, final data in 2022, and assuming positive clinical data and regulatory approval, potentially commercialize envafolimab in 2023 and thereby address a high unmet need within sarcoma.”.

A sum of 11359897 shares traded at recent session while its average daily volume was at 1.54M shares. TRACON Pharmaceuticals Inc. shares reached a high of $7.95 and dropped to a low of $5.35 until finishing in the latest session at $7.46.

The one-year TCON stock forecast points to a potential downside of -39.96. The average equity rating for TCON stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on 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 $5.33 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 0.65 The Price to Book ratio for the last quarter was 15.87.

TCON Stock Performance Analysis:

TRACON Pharmaceuticals Inc. [TCON] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 49.50. With this latest performance, TCON shares gained by 32.98% in over the last four-week period, additionally plugging by 271.14% over the last 6 months – not to mention a rise of 122.69% 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 73.89, with the RSI for the last a single of trading hit 81.26, and the three-weeks RSI is set at 70.99 for TRACON Pharmaceuticals Inc. [TCON]. The present Moving Average for the last 50 days of trading for this stock 4.89, while it was recorded at 5.85 for the last single week of trading, and 2.83 for the last 200 days.

Insight into TRACON Pharmaceuticals Inc. Fundamentals:

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.

TCON Stock EPS

With the latest financial reports released by the company, TRACON Pharmaceuticals Inc. posted -1.25/share EPS, while the average EPS was predicted by analysts to be reported at -1.66/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 24.70%. 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.

TRACON Pharmaceuticals Inc. [TCON] Insider Position Details

There are presently around $9 million, or 40.70% 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 1.50% of the total institutional ownership; LINDEN ADVISORS LP, holding 284,248 shares of the stock with an approximate value of $1.57 million in TCON stocks shares; and RENAISSANCE TECHNOLOGIES LLC, currently with $1.54 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 November and at the time of the November reporting period, where 15 institutional holders increased their position in TRACON Pharmaceuticals Inc. [NASDAQ:TCON] by around 453,919 shares. Additionally, 3 investors decreased positions by around 77,891 shares, while 8 investors held positions by with 1,132,564 shares. The mentioned changes placed institutional holdings at 1,664,374 shares, according to the latest SEC report filing. TCON stock had 7 new institutional investments in for a total of 188,594 shares, while 3 institutional investors sold positions of 77,891 shares during the same period.

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