H.C. Wainwright Believes TRACON Pharmaceuticals (NASDAQ: TCON) Won’t Stop Here

By Carrie Williams

In a report released today, Edward White from H.C. Wainwright maintained a Buy rating on TRACON Pharmaceuticals (TCONResearch Report), with a price target of $7.00. The company’s shares closed last Monday at $5.66, close to its 52-week high of $6.37.

According to TipRanks.com, White is a 5-star analyst with an average return of 28.8% and a 52.6% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Karyopharm Therapeutics, and Aeglea Biotherapeutics.

TRACON Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $6.50.

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The company has a one-year high of $6.37 and a one-year low of $0.95. Currently, TRACON Pharmaceuticals has an average volume of 1.48M.

Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TCON in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

TRACON Pharmaceuticals, Inc. engages in the development and commercialization of targeted therapies for cancer, ophthalmic, and fibrotic diseases. Its products include TRC105, an anti-endoglin antibody for the treatment of solid tumor types; TRC205 created for the treatment of fibrotic diseases; and TRC102, a small molecule that is in clinical development made for lung cancer and glioblastoma. The company was founded in October 2004 and is headquartered in San Diego, CA.