$710,000.00 in Sales Expected for TRACON Pharmaceuticals Inc (TCON) This Quarter

Analysts expect that TRACON Pharmaceuticals Inc (NASDAQ:TCON) will report $710,000.00 in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for TRACON Pharmaceuticals’ earnings, with the highest sales estimate coming in at $910,000.00 and the lowest estimate coming in at $510,000.00. TRACON Pharmaceuticals posted sales of $620,000.00 in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.5%. The firm is expected to announce its next earnings report on Tuesday, February 27th.

According to Zacks, analysts expect that TRACON Pharmaceuticals will report full year sales of $710,000.00 for the current fiscal year, with estimates ranging from $9.26 million to $11.00 million. For the next fiscal year, analysts expect that the business will post sales of $26.79 million per share, with estimates ranging from $2.38 million to $45.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for TRACON Pharmaceuticals.

TRACON Pharmaceuticals (NASDAQ:TCON) last issued its earnings results on Tuesday, November 7th. The biopharmaceutical company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.32. The business had revenue of $7.50 million during the quarter, compared to analyst estimates of $7.60 million. TRACON Pharmaceuticals had a negative return on equity of 83.43% and a negative net margin of 201.21%.

Separately, Zacks Investment Research upgraded TRACON Pharmaceuticals from a “hold” rating to a “buy” rating and set a $3.25 target price for the company in a research note on Saturday, November 11th.

Shares of TRACON Pharmaceuticals (NASDAQ TCON) remained flat at $$2.90 during midday trading on Tuesday. 146,453 shares of the company’s stock traded hands, compared to its average volume of 208,673. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.80 and a quick ratio of 3.80. The firm has a market capitalization of $52.54, a price-to-earnings ratio of -2.38 and a beta of 2.06. TRACON Pharmaceuticals has a 52-week low of $2.00 and a 52-week high of $4.70.

A hedge fund recently bought a new stake in TRACON Pharmaceuticals stock. 683 Capital Management LLC bought a new stake in TRACON Pharmaceuticals Inc (NASDAQ:TCON) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 995,000 shares of the biopharmaceutical company’s stock, valued at approximately $3,134,000. 683 Capital Management LLC owned approximately 5.68% of TRACON Pharmaceuticals at the end of the most recent quarter. Institutional investors own 33.91% of the company’s stock.

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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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Earnings History and Estimates for TRACON Pharmaceuticals (NASDAQ:TCON)

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