TRACON Pharmaceuticals Inc. (NASDAQ: TCON) growth is a big Buy opportunity

TRACON Pharmaceuticals Inc. (NASDAQ: TCON) is 2.99% higher on its value in year-to-date trading and has touched a low of $0.95 and a high of $5.70 in the current 52-week trading range. The TCON stock was last observed hovering at around $1.89 in the last trading session, with the day’s gains setting it 0.52% off its average median price target of $4.00 for the next 12 months. It is also 59.83% off the consensus price target high of $6.00 offered by 3 analysts, but current levels are 19.67% higher than the price target low of $3.00 for the same period.

Currently trading at $2.41, the stock is 37.87% and 32.32% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 9.3 million and changing 27.51% at the moment leaves the stock 1.27% off its SMA200. TCON registered -55.26% loss for a year compared to 6-month loss of -12.04%. The firm has a 50-day simple moving average (SMA 50) of $1.7803 and a 200-day simple moving average (SMA200) of $1.9919.

The stock witnessed a 43.45% gain in the last 1 month and extending the period to 3 months gives it a 3.36%, and is 41.76% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 12.45% over the week and 10.77% over the month.

Distance from 52-week low is 153.68% and -57.72% from its 52-week high.

TRACON Pharmaceuticals Inc. (TCON) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for TRACON Pharmaceuticals Inc. (TCON) is a “Overweight”. 3 analysts offering their recommendations for the stock have an average rating of 2.20, where 1 rate it as a Hold and 0 think it is a “Overweight”. 2 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.

TRACON Pharmaceuticals Inc. is expected to release its quarterly report on 11/10/2020 and quarterly earnings per share for the current quarter are estimated at -$0.69.The EPS is expected to grow by 42.40% this year.

TRACON Pharmaceuticals Inc. (TCON) Top Institutional Holders

20 institutions hold shares in TRACON Pharmaceuticals Inc. (TCON), with 238.22k shares held by insiders accounting for 2.80% while institutional investors hold 26.07% of the company’s shares. The shares outstanding are 6.39M, and float is at 6.17M with Short Float at 0.46%. Institutions hold 25.34% of the Float.

TRACON Pharmaceuticals Inc. (TCON) Insider Activity

A total of 18 insider transactions have happened at TRACON Pharmaceuticals Inc. (TCON) in the last six months, with sales accounting for 0 and purchases happening 18 times. The most recent transaction is an insider purchase by Opaleye Management Inc., the company’s 10% Owner. SEC filings show that Opaleye Management Inc. bought 302,150 shares of the company’s common stock on Aug 31 at a price of $1.76 per share for a total of $0.53 million. Following the purchase, the insider now owns 1.5 million shares.

TRACON Pharmaceuticals Inc. disclosed in a document filed with the SEC on Aug 28 that Opaleye Management Inc. (10% Owner) bought a total of 60,000 shares of the company’s common stock. The trade occurred on Aug 28 and was made at $1.78 per share for $0.11 million. Following the transaction, the insider now directly holds 0.21 million shares of the TCON stock.

Still, SEC filings show that on Aug 27, Opaleye Management Inc. (10% Owner) acquired 183,354 shares at an average price of $1.71 for $0.31 million. The insider now directly holds 1,206,196 shares of TRACON Pharmaceuticals Inc. (TCON).