BTIG Starts Tracon Pharmaceuticals (TCON) at Buy

August 19, 2016 8:29 AM EDT
Get Alerts TCON Hot Sheet
Price: $4.73 -8.16%

Rating Summary:
    6 Buy, 1 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 22 | Down: 16 | New: 13
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BTIG initiated coverage on Tracon Pharmaceuticals (NASDAQ: TCON) with a Buy rating and a price target of $15.

Analyst Ling Wang said, "TCON’s lead compound, TRC105 (an anti-endoglin antibody) has generated promising efficacy in a variety of solid tumors. With TRC105 potentially entering pivotal Phase III trials in 2H16, we project a market launch in 2019, with peak US sales of over $300M across indications. Advancement of a second compound TRC-102 (in Phase I/II sponsored by NCI) and a wet AMD program, partnered with Santen (SNPHF, Not Rated) would provide additional upside (not modeled)."

For an analyst ratings summary and ratings history on Tracon Pharmaceuticals click here. For more ratings news on Tracon Pharmaceuticals click here.

Shares of Tracon Pharmaceuticals closed at $5.87 yesterday.

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