HC Wainwright Equities Analysts Reduce Earnings Estimates for TRACON Pharmaceuticals, Inc. (NASDAQ:TCON)

TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) – Equities researchers at HC Wainwright cut their Q2 2024 earnings per share (EPS) estimates for TRACON Pharmaceuticals in a research note issued to investors on Monday, July 1st. HC Wainwright analyst E. White now forecasts that the biopharmaceutical company will earn ($1.05) per share for the quarter, down from their previous forecast of ($0.99). HC Wainwright has a “Neutral” rating on the stock. The consensus estimate for TRACON Pharmaceuticals’ current full-year earnings is ($4.07) per share. HC Wainwright also issued estimates for TRACON Pharmaceuticals’ Q3 2024 earnings at ($0.60) EPS, Q4 2024 earnings at ($0.29) EPS, FY2024 earnings at ($2.82) EPS, FY2025 earnings at ($0.19) EPS and FY2026 earnings at ($0.07) EPS.

Separately, StockNews.com lowered TRACON Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th.

TRACON Pharmaceuticals Stock Performance

Shares of TCON opened at $0.85 on Thursday. TRACON Pharmaceuticals has a 52-week low of $0.66 and a 52-week high of $14.75. The business’s 50 day moving average price is $1.43 and its two-hundred day moving average price is $3.35. The firm has a market cap of $2.28 million, a PE ratio of 1.27 and a beta of 1.28.

TRACON Pharmaceuticals (NASDAQ:TCON) last issued its quarterly earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($1.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.20) by ($0.13). The business had revenue of $0.10 million during the quarter. During the same period last year, the firm earned ($7.20) EPS.

TRACON Pharmaceuticals Announces Dividend

The company also recently announced a dividend, which will be paid on Monday, July 8th. Stockholders of record on Friday, June 28th will be given a dividend of $0.045 per share. This represents a dividend yield of 40.3%. The ex-dividend date of this dividend is Thursday, June 27th.

TRACON Pharmaceuticals Company Profile

TRACON Pharmaceuticals, Inc, a biopharmaceutical company, focuses on the development and commercialization of novel targeted therapeutics for cancer in the United States. Its clinical stage products include envafolimab (KN035), a PD-L1 single-domain antibody for the treatment of refractory soft tissue sarcoma; and YH001, an investigational humanized cytotoxic T-lymphocyte-associated protein 4 IgG1 monoclonal antibody that is in Phase I clinical trial for the treatment of various cancer indications.