TRACON Pharmaceuticals (TCON) Gets a Buy Rating from H.C. Wainwright

By Carrie Williams

H.C. Wainwright analyst Edward White maintained a Buy rating on TRACON Pharmaceuticals (TCONResearch Report) today and set a price target of $2.00. The company’s shares closed last Monday at $0.42, close to its 52-week low of $0.28.

According to TipRanks.com, White is a 5-star analyst with an average return of 14.3% and a 48.8% success rate. White covers the Healthcare sector, focusing on stocks such as Spectrum Pharmaceuticals, Karyopharm Therapeutics, and Syndax Pharmaceuticals.

TRACON Pharmaceuticals has an analyst consensus of Moderate Buy, with a price target consensus of $2.00.

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Based on TRACON Pharmaceuticals’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $6.33 million. In comparison, last year the company had a GAAP net loss of $9.09 million.

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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.