Today: The Tracon Pharmaceuticals Inc. (TCON) Receives “Buy” Rating from Stifel Nicolaus

The Tracon Pharmaceuticals Inc. (TCON) Receives “Buy” Rating from Stifel Nicolaus

Tracon Pharmaceuticals Inc. (NASDAQ:TCON)‘s stock had its “buy” rating reissued by equities research analysts at Stifel Nicolaus in a note issued to investors on Wednesday. They currently have a $14.00 price objective on the biopharmaceutical company’s stock. Stifel Nicolaus’ price objective points to a potential upside of 113.41% from the company’s previous close.

Separately, BTIG Research started coverage on shares of Tracon Pharmaceuticals in a research note on Friday, August 19th. They issued a “buy” rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $18.33.

Tracon Pharmaceuticals (NASDAQ:TCON) traded up 2.29% during midday trading on Wednesday, reaching $6.71. 8,840 shares of the company’s stock traded hands. Tracon Pharmaceuticals has a 52-week low of $4.00 and a 52-week high of $12.50. The company’s 50-day moving average price is $6.16 and its 200-day moving average price is $6.18. The stock’s market cap is $81.88 million.

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Tracon Pharmaceuticals (NASDAQ:TCON) last announced its quarterly earnings data on Wednesday, August 10th. The biopharmaceutical company reported ($0.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.62) by $0.06. Tracon Pharmaceuticals had a negative net margin of 703.77% and a negative return on equity of 111.98%. On average, equities analysts predict that Tracon Pharmaceuticals will post ($2.50) EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in TCON. Stifel Financial Corp purchased a new stake in shares of Tracon Pharmaceuticals during the second quarter valued at $144,000. Vanguard Group Inc. boosted its stake in shares of Tracon Pharmaceuticals by 1.7% in the second quarter. Vanguard Group Inc. now owns 190,600 shares of the biopharmaceutical company’s stock valued at $835,000 after buying an additional 3,118 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its stake in shares of Tracon Pharmaceuticals by 56.9% in the second quarter. ClariVest Asset Management LLC now owns 56,500 shares of the biopharmaceutical company’s stock valued at $247,000 after buying an additional 20,500 shares during the last quarter. 30.98% of the stock is owned by institutional investors and hedge funds.

Tracon Pharmaceuticals Company Profile

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