TRACON Pharmaceuticals Inc [NASDAQ: TCON] stock went on a downward path that fall over -24.79% on Monday, amounting to a one-week price decrease of less than -53.32%. The company report on April 8, 2024 at 9:10 AM that TRACON Pharmaceuticals Announces Reverse Stock Split.
The effective time of the reverse stock split is 5:00 p.m. ET on April 9, 2024. Shares of the Company’s common stock will begin trading on a split-adjusted basis commencing upon market open on April 10, 2024.
Over the last 12 months, TCON stock dropped by -90.10%. The one-year TRACON Pharmaceuticals Inc stock forecast points to a potential upside of 90.5. The average equity rating for TCON stock is currently 1.67, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $8.74 million, with 44.27 million shares outstanding and 40.26 million shares in the current float. Compared to the average trading volume of 3.38M shares, TCON stock reached a trading volume of 6849022 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $2.00 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 1.67. 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.
BTIG Research have made an estimate for TRACON Pharmaceuticals Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on April 16, 2021. While these analysts kept the previous recommendation, Maxim Group raised their target price to Buy. The new note on the price target was released on February 10, 2021, representing the official price target for TRACON Pharmaceuticals Inc stock. Previously, the target price had yet another raise from $15 to $18, while H.C. Wainwright kept a Buy rating on TCON stock.
The Average True Range (ATR) for TRACON Pharmaceuticals Inc is set at 0.07, with the Price to Sales ratio for TCON stock in the period of the last 12 months amounting to 0.73. Price to Free Cash Flow for TCON in the course of the last twelve months was 2.37 with Quick ratio for the last quarter at 0.89.
TCON Stock Performance Analysis:
TRACON Pharmaceuticals Inc [TCON] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -53.32. With this latest performance, TCON shares dropped by -17.42% in over the last four-week period, additionally plugging by 14.90% over the last 6 months – not to mention a drop of -90.10% 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 38.41, with the RSI for the last a single of trading hit 31.75, and the three-weeks RSI is set at 42.26 for TRACON Pharmaceuticals Inc [TCON]. The present Moving Average for the last 50 days of trading for this stock 0.2687, while it was recorded at 0.2689 for the last single week of trading, and 0.2337 for the last 200 days.
Insight into TRACON Pharmaceuticals Inc Fundamentals:
TRACON Pharmaceuticals Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.89 and a Current Ratio set at 0.89.
TCON Stock EPS
With the latest financial reports released by the company, TRACON Pharmaceuticals Inc posted -0.36/share EPS, while the average EPS was predicted by analysts to be reported at -0.26/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -38.50%. 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] Institutonal Ownership Details
The top three institutional holders of TCON stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in TCON stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in TCON stock with ownership which is approximately 5.8386%.
