Buy rating and PT! Sure wish I believed in the credibility of Analysts!!!
$Tracon Pharmaceuticals(TCON.US$ I still really dig this company and now that R/S is complete! I will start looking for a in for another swing! But with my chat here im going to include a bit of the latest PR for buy rating and PT! Hehehe! (((((((. TRACON Pharmaceuticals (TCON – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Edward White from H.C. Wainwright reiterated a Buy rating on the stock and has a $55.00 price target.
Edward White has given his Buy rating due to a combination of factors surrounding TRACON Pharmaceuticals, particularly the financial modeling adjustments following a reverse stock split and future revenue forecasts. White adjusted the company’s model to reflect the 1-for-20 reverse stock split, which effectively increased the share price and decreased the number of shares outstanding. The adjustment of future earnings per share estimates for the fiscal years 2024 and 2025 post-split also plays a role in his analysis. White maintains confidence in the company’s prospects, which is reflected in the reiterated Buy rating.
The rationale behind the Buy rating is further reinforced by the valuation of envafolimab, TRACON’s promising product. White’s price target adjustment to $55 from $3 post-split is based on a probability-adjusted revenue forecast for envafolimab through 2029. Applying a 20% probability of success (PoS) for envafolimab’s market entry and a price-to-sales (P/S) multiple of 3x, which aligns with industry peers, provides a solid foundation for his valuation. White anticipates that envafolimab will hit the market in 2026 with significant revenue generation expected by 2029. This positive outlook, alongside a standard discount rate applied to the net present value (NPV) of the product pipeline, substantiates the Buy rating for TRACON Pharmaceuticals.
Edward White has given his Buy rating due to a combination of factors surrounding TRACON Pharmaceuticals, particularly the financial modeling adjustments following a reverse stock split and future revenue forecasts. White adjusted the company’s model to reflect the 1-for-20 reverse stock split, which effectively increased the share price and decreased the number of shares outstanding. The adjustment of future earnings per share estimates for the fiscal years 2024 and 2025 post-split also plays a role in his analysis. White maintains confidence in the company’s prospects, which is reflected in the reiterated Buy rating.
The rationale behind the Buy rating is further reinforced by the valuation of envafolimab, TRACON’s promising product. White’s price target adjustment to $55 from $3 post-split is based on a probability-adjusted revenue forecast for envafolimab through 2029. Applying a 20% probability of success (PoS) for envafolimab’s market entry and a price-to-sales (P/S) multiple of 3x, which aligns with industry peers, provides a solid foundation for his valuation. White anticipates that envafolimab will hit the market in 2026 with significant revenue generation expected by 2029. This positive outlook, alongside a standard discount rate applied to the net present value (NPV) of the product pipeline, substantiates the Buy rating for TRACON Pharmaceuticals.
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Jaguar8 : I believe in this stock but the analyst’s 55? Haha maybe 20 is more realistic
70994532 : HC will reduce their buy rating in a month soon.
TrytosaveabitOP Jaguar8: So true right! I think they do have some great things in the line! But yeah 55! But wouldn’t it be nice to be sitting on 5K shares and the price pump to that before EOY! Hehehe
Jaguar8 TrytosaveabitOP: Wow 5k shares then go to 55… Wowow I’ll be a happy guy
TrytosaveabitOP Jaguar8: Me too! Well except when 4/15 rolls around! Im actually thinking of writing that check out this week! Hehehe! Gotta pay for them illegals! OOPSS! Was that outloud? Hehehe
Jaguar8 TrytosaveabitOP: Right on!!’