TRACON Pharmaceuticals Inc. (NASDAQ:TCON) does about 878.40K shares in volume on a normal day but saw 9303505 shares change hands in Tuesday trading. The company now has a market cap of 19.30M USD and an enterprise value of about $9.99M. Its current market price is $2.41, marking an increase of 27.51% compared to the previous close of $1.89. The 52 week high reached by this stock is $5.70 whilst the lowest price level in 52 weeks is $0.95. The script in recent trading has seen the stock touch a high of $2.58 and a low of $1.98.
TRACON Pharmaceuticals Inc. (TCON) has a 20-day trading average at $1.77 and the current price is -57.72% off the 52-week high compared with 153.68% distance from its 52-week low. The 50-day simple moving average of the closing price is $1.83 and its 200-day simple moving average is $2.38. If we look at the stock’s price movements over the week, volatility stands at 12.45%, which decreases to 10.77% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 73.70 to suggest the stock is overbought.
3 analysts observing the TRACON Pharmaceuticals Inc. (TCON) stock have set the 12-month price targets for the company’s shares at between $3.00 and $6.00. The median price target is 39.75% away from the current levels at $4.00.
FactSet Research has provided data showing that 3 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 0 advise that it is a overweight. 2 analysts have rated it as a buy and 1 have advised that investors hold their positions. The consensus recommendation rating is Overweight and Wall Street’s advice is for investors to Moderate Buy the stock.
The company shares received a number of brokerage firm price updates over the past month, with the latest being on December 23, 2019 when H.C. Wainwright reiterated the stock to “Buy” and issued a price target of between $15 and $18. Stifel reiterated its price target at $14-$6.
The current price level is 37.87%, 32.32%, and 1.27% away from its SMA20, SMA50, and SMA200 respectively, with the TCON price moving below the 50-day SMA on September 01. TRACON Pharmaceuticals Inc. (TCON) stock is up 41.76% over the week and 43.45% over the past month. Its price is 2.99% year-to-date and -55.26% over the past year.
The stock last released its quarterly earnings report for quarter ended 6/29/2020, with the company’s earnings per share (EPS) of -$0.7 above consensus estimates by $0.03. The company’s next earnings report is expected on 11/10/2020, with forecasts estimating quarterly EPS at -$0.69 and -$2.84 for whole year. TCON’s earnings per share are forecast to grow by 62.00% this year and 31.70% over next year.
Its 12-month price target is $4.00. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $3.00, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $6.00.
Outstanding shares total 6.39M with insiders holding 2.80% of the shares and institutional holders owning 25.34% of the company’s common stock. The company has a return on equity of -562.50%. The beta has a value of 1.89. Price to book ratio is 5.13.
According to a U.S. Securities and Exchange Commission filing, Vanguard Extended Market Index Fu has reduced its position in TRACON Pharmaceuticals Inc. (TCON) to 14,546 shares, mirroring a recent drop by 0.00%. Vanguard Extended Market Index Fu dumped 0.0 shares of TRACON Pharmaceuticals Inc. common stock bringing its total worth to about $24001.0 at the end of recent close, SEC documents show. Vanguard Extended Market Index Fu isn’t the only investment manager who changed stakes and is followed by Fidelity Nasdaq Composite Index F, which sold off 0.0 shares to end up with 6,894 shares worth $11375.0. Fidelity Extended Market Index Fu cut their holdings by 0.00% in the company over the course of the most recent quarter. It now holds a 0.04% position in TRACON Pharmaceuticals Inc. thanks to 2418.0 shares amounting to $3990.0.