In the latest trading session, 2.48 million TRACON Pharmaceuticals Inc. (NASDAQ:TCON) shares changed hands as the company’s beta touched 1.23. With the company’s most recent per share price at $0.25 changing hands around $0.0 or -1.69% at last look, the market valuation stands at $7.37M. TCON’s current price is a discount, trading about -776.0% off its 52-week high of $2.19. The share price had its 52-week low at $0.19, which suggests the last value was 24.0% up since then. When we look at TRACON Pharmaceuticals Inc.’s average trading volume, we note the 10-day average is 0.21 million shares, with the 3-month average coming to 488.50K.
Analysts gave the TRACON Pharmaceuticals Inc. (TCON) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.00. If we narrow down to specifics, the data shows that 0 out of 3 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 1 recommended TCON as a Hold, 1 felt it is a Buy and 0 rated the stock as Underweight. TRACON Pharmaceuticals Inc.’s EPS for the current quarter is expected to be -$0.1.
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TRACON Pharmaceuticals Inc. (NASDAQ:TCON) trade information
Instantly TCON was in red as seen in intraday trades today. With action 13.50%, the performance over the past five days has been green. The drop to weekly highs of 0.2700 on Friday, 09/15/23 subtracted -1.69% to the stock’s daily price. The company’s shares are showing year-to-date downside of -83.24%, with the 5-day performance at 13.50% in the green. However, in the 30-day time frame, TRACON Pharmaceuticals Inc. (NASDAQ:TCON) is 21.80% up. Looking at the short shares, we see there were 0.4 million shares sold at short interest cover period of 0.55 days.
The consensus price target for the stock as assigned by Wall Street analysts is $3.00, meaning bulls need an upside of 91.67% from its recent market value. According to analyst projections, TCON’s forecast low is $1.00 with $5.00 as the target high. To hit the forecast high, the stock’s price needs a -1900.0% plunge from its current level, while the stock would need to soar -300.0% for it to hit the projected low.
TRACON Pharmaceuticals Inc. (TCON) estimates and forecasts
Data shows that the TRACON Pharmaceuticals Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -83.89% over the past 6 months, a 59.71% in annual growth rate that is considerably higher than the industry average of 11.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for TRACON Pharmaceuticals Inc. will rise 66.70%, while the growth in revenue is estimated to hit 51.60% for the next quarter.
Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $2.37 million.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 34.30%. The 2023 estimates are for TRACON Pharmaceuticals Inc. earnings to increase by 16.20%.
TCON Dividends
TRACON Pharmaceuticals Inc. is expected to release its next quarterly earnings report between November 13 and November 17.
TRACON Pharmaceuticals Inc. (NASDAQ:TCON)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 9.41% of TRACON Pharmaceuticals Inc. shares while 51.92% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 57.31%. There are 51.92% institutions holding the TRACON Pharmaceuticals Inc. stock share, with Opaleye Management Inc. the top institutional holder. As of Jun 29, 2023, the company held 15.52% of the shares, roughly 4.76 million TCON shares worth $1.24 million.
Ikarian Capital, LLC holds the second largest percentage of outstanding shares, with 9.01% or 2.77 million shares worth $0.72 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund. With 0.48 million shares estimated at $0.12 million under it, the former controlled 1.56% of total outstanding shares. On the other hand, Vanguard Extended Market Index Fund held about 0.86% of the shares, roughly 0.26 million shares worth around $68425.0.
