TRACON Pharmaceuticals (NASDAQ:TCON) Shares Pass Above Fifty Day Moving Average of $1.53

TRACON Pharmaceuticals, Inc. (NASDAQ:TCON) passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $1.53 and traded as high as $1.54. TRACON Pharmaceuticals shares last traded at $1.45, with a volume of 86,170 shares traded.

Analysts Set New Price Targets

Several brokerages have recently commented on TCON. HC Wainwright decreased their target price on TRACON Pharmaceuticals from $120.00 to $60.00 and set a “buy” rating for the company in a research report on Wednesday, April 3rd. StockNews.com lowered shares of TRACON Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday.

TRACON Pharmaceuticals Stock Performance

The firm’s 50 day moving average is $1.50 and its two-hundred day moving average is $3.42. The firm has a market cap of $3.83 million, a P/E ratio of 2.13 and a beta of 1.25.

TRACON Pharmaceuticals (NASDAQ:TCON) last released its quarterly earnings results on Tuesday, May 14th. The biopharmaceutical company reported ($1.33) EPS for the quarter, missing analysts’ consensus estimates of ($1.20) by ($0.13). The firm had revenue of $0.10 million during the quarter. During the same quarter last year, the company earned ($7.20) EPS. Analysts predict that TRACON Pharmaceuticals, Inc. will post -4 EPS for the current fiscal year.

TRACON Pharmaceuticals Announces Dividend

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

About TRACON Pharmaceuticals

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.