BTIG analyst Robert Hazlett lowered his price target on TRACON Pharma to $9 after the company's recent announcement that its Phase 2b TRAXAR trial of TRC105+Intyla in renal cell carcinoma, or RCC, did not meet the primary endpoint of improving progression free survival. The analyst states that the findings have led him to remove the RCC estimates from his model, leading to a lower price target. Hazlett is keeping his Buy rating on Tracon Pharma as he continues to have "material expectations for 105 in angiosarcoma, as well as its opportunities in wet AMD with DE-122 and prostate cancer with TRC253.