TRACON Pharmaceuticals Inc (NASDAQ: TCON) – Suitable For Long Term Buy?

Currently, there are 44.27M common shares owned by the public and among those 40.26M shares have been available to trade.

However, the script later moved the day high at 0.4010, up 4.49%. The company’s stock has a 5-day price change of 21.76% and 142.87% over the past three months. TCON shares are trading 160.77% year to date (YTD), with the 12-month market performance down to -72.33% lower. It has a 12-month low price of $0.13 and touched a high of $2.19 over the same period. TCON has an average intraday trading volume of 2.74 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 57.29%, 101.45%, and 87.12% respectively.

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Institutional ownership of TRACON Pharmaceuticals Inc (NASDAQ: TCON) shares accounts for 11.23% of the company’s 44.27M shares outstanding.

It has a market capitalization of $20.78M and a beta (3y monthly) value of 0.93. The earnings-per-share (ttm) stands at -$0.26. Price movements for the stock have been influenced by the stock’s volatility, which stands at 29.18% over the week and 24.86% over the month.

Earnings per share for the fiscal year are expected to decrease by -115.15%, and 50.70% over the next financial year.

Looking at the support for the TCON, a number of firms have released research notes about the stock. BTIG Research stated their Buy rating for the stock in a research note on April 16, 2021, with the firm’s price target at $14. Maxim Group coverage for the TRACON Pharmaceuticals Inc (TCON) stock in a research note released on February 10, 2021 offered a Buy rating with a price target of $24. H.C. Wainwright was of a view on December 23, 2019 that the stock is Buy, while Needham gave the stock Buy rating on March 01, 2019, issuing a price target of $7. Stifel on their part issued Buy rating on June 13, 2017.

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