Roth Capital Starts Tracon Pharmaceuticals (TCON) at Buy

Roth Capital initiates coverage on Tracon Pharmaceuticals (NASDAQ: TCON) with a Buy rating and a price target of $18.00.

Analyst Debjit Chattopadhyay commented, "We initiate Tracon with a Buy rating and $18 target. Tracon is developing an antibody targeting the endoglin receptor. Endoglin is essential to the process of new blood vessel formation, which is a commercially validated therapeutic target in oncology and age-related macular degeneration (AMD). We expect endoglin inhibition to have synergistic efficacy with pan-VEGF TKIs. Five mid-stage study readouts over the next six to 12 months, if positive could be a catalyst for the stock, in our view."

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 $12.58 yesterday.

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