TRACON Pharmaceuticals (TCON) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

TRACON Pharmaceuticals (NASDAQ:TCON) announced its earnings results on Wednesday. The biopharmaceutical company reported ($0.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.27) by ($0.03), Morningstar.com reports.

Shares of NASDAQ TCON traded down $0.06 during mid-day trading on Friday, hitting $1.43. 107,287 shares of the company’s stock traded hands, compared to its average volume of 144,872. The company has a current ratio of 4.84, a quick ratio of 4.84 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $45.96 million, a price-to-earnings ratio of -1.25 and a beta of 2.15. TRACON Pharmaceuticals has a 1 year low of $1.30 and a 1 year high of $3.60.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. 683 Capital Management LLC raised its position in TRACON Pharmaceuticals by 82.6% in the 2nd quarter. 683 Capital Management LLC now owns 2,738,938 shares of the biopharmaceutical company’s stock worth $7,073,000 after purchasing an additional 1,238,938 shares during the period. Renaissance Technologies LLC raised its position in TRACON Pharmaceuticals by 40.7% in the 2nd quarter. Renaissance Technologies LLC now owns 719,900 shares of the biopharmaceutical company’s stock worth $1,944,000 after purchasing an additional 208,300 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in TRACON Pharmaceuticals by 368.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 76,999 shares of the biopharmaceutical company’s stock worth $208,000 after purchasing an additional 60,574 shares during the period. Hedge funds and other institutional investors own 56.38% of the company’s stock.

Separately, Zacks Investment Research cut shares of TRACON Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th.

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About TRACON Pharmaceuticals

TRACON Pharmaceuticals, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapeutics for cancer, wet age-related macular degeneration (AMD), and fibrotic diseases. Its lead product candidate is TRC105, an endoglin antibody, which is in Phase III clinical trials for angiosarcoma; randomized Phase II clinical trials for renal cell carcinoma; Phase II clinical trials for gestational trophoblastic neoplasia; Phase I/II clinical trials for hepatocellular carcinoma; Phase I clinical trial for lung cancer; Phase I/II clinical trials for breast cancer; Phase II clinical trials for prostate cancer; and randomized Phase II clinical trials for wet AMD.

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Earnings History for TRACON Pharmaceuticals (NASDAQ:TCON)

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