An Analysis Of TRACON Pharmaceuticals Inc (NASDAQ: TCON), And Its Business Forecast

In the last trading session, 1.16 million shares of the TRACON Pharmaceuticals Inc (NASDAQ:TCON) were traded, and its beta was 1.04. Most recently the company’s share price was $0.42, and it changed around $0.01 or 1.05% from the last close, which brings the market valuation of the company to $18.91M. TCON currently trades at a discount to its 52-week high of $2.14, offering almost -409.52% off that amount. The share price’s 52-week low was $0.13, which indicates that the current value has risen by an impressive 69.05% since then. We note from TRACON Pharmaceuticals Inc’s average daily trading volume that its 10-day average is 3.7 million shares, with the 3-month average coming to 2.97 million.

TRACON Pharmaceuticals Inc stock received a consensus recommendation rating of Overweight, based on a mean score of 1.67. If we narrow it down even further, the data shows that 0 out of 5 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, 1 recommended TCON as a Hold, whereas 1 deemed it a Buy, and 0 rated it as Underweight. TRACON Pharmaceuticals Inc is expected to report earnings per share of -$0.06 for the current quarter.

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TRACON Pharmaceuticals Inc (NASDAQ:TCON) trade information

Instantly TCON has showed a green trend with a performance of 1.05% at the end of last trading. The performance over the last five days has remained in the red territory. The company’s shares are currently up 137.35% year-to-date, but still down -9.65% over the last five days. On the other hand, TRACON Pharmaceuticals Inc (NASDAQ:TCON) is 121.06% up in the 30-day period. We can see from the shorts that 1.9 million shares have been sold at a short interest cover period of 0.38 day(s).

TRACON Pharmaceuticals Inc (TCON) estimates and forecasts

TRACON Pharmaceuticals Inc share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 133.48 percent over the past six months and at a -81.82% annual growth rate that is well below the industry average of 13.60%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 83.30% in revenue this quarter, and will report an increase of 75.00% in the next quarter.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 61.51%.

TCON Dividends

TRACON Pharmaceuticals Inc’s next quarterly earnings report is expected to be released around May 08 and May 13.

TRACON Pharmaceuticals Inc (NASDAQ:TCON)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 2.59% of TRACON Pharmaceuticals Inc shares, and 11.87% of them are in the hands of institutional investors. The stock currently has a share float of 12.19%. TRACON Pharmaceuticals Inc stock is held by 29 institutions, with Opaleye Management Inc. being the largest institutional investor. By Jun 29, 2023, it held 15.52% of the shares, which is about 4.76 million shares worth $1.39 million.

Ikarian Capital, LLC, with 9.01% or 2.77 million shares worth $0.8 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and Vanguard Extended Market Index Fund were the top two Mutual Funds as of Jun 29, 2023. The former held 0.48 million shares worth $0.14 million, making up 1.56% of all outstanding shares. On the other hand, Vanguard Extended Market Index Fund held roughly 0.26 million shares worth around $76466.0, which represents about 0.86% of the total shares outstanding.