BTIG Research Initiates Coverage on TRACON Pharmaceuticals Inc to Buy

BTIG Research Initiates Coverage on TRACON Pharmaceuticals Inc(NASDAQ:TCON). The shares have been rated Buy. The rating by BTIG Research was issued on Aug 19, 2016.

TRACON Pharmaceuticals Inc (TCON) shares turned negative on Mondays trading session with the shares closing down -0.09 points or -1.43% at a volume of 11,285. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $6.7324. The peak price level was also seen at $6.7324 while the days lowest was $6.15. Finally the shares closed at $6.21. The 52-week high of the shares is $18.35 while the 52-week low is $4. According to the latest information available, the market cap of the company is $76 M.

TRACON Pharmaceuticals Inc(TCON) last announced its earnings results on Aug 10, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $807.00K. Analysts had an estimated revenue of $2.11M. Earnings per share were $-0.68. Analysts had estimated an EPS of $-0.62.

Several Insider Transactions has been reported to the SEC. On Jun 7, 2016, Ronald L Shazer (Chief Medical Officer) sold 1,003 shares at $7.48 per share price.Also, On Oct 19, 2015, Super V3 Investment Limi Jafco (10% owner) sold 1,500 shares at $9.90 per share price.On Sep 22, 2015, H Casey Logan (Chief Business Officer) sold 5,000 shares at $17.34 per share price, according to the Form-4 filing with the securities and exchange commission.

TRACON Pharmaceuticals Inc. (TRACON) is a clinical-stage biopharmaceutical company. The Company is focused on the development and commercialization of therapeutics for cancer age-related macular degeneration (AMD) and fibrotic diseases. The Company’s research focuses on antibodies that bind to the endoglin receptor which is essential to angiogenesis (the process of new blood vessel formation) and a contributor to fibrosis (tissue scarring). The Company’s lead product candidate TRC105 is an anti-endoglin antibody that is being developed for the treatment of multiple solid tumor types in combination with inhibitors of the vascular endothelial growth factor (VEGF) pathway. Its other anti-endoglin antibody is TRC205 which is in preclinical development for the treatment of fibrotic diseases. The Company is also developing TRC102 a small molecule that is in clinical development for the treatment of lung cancer and glioblastoma.

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