Wolfe Research Begins Coverage on First Tracks Biotherapeutics (NASDAQ:TRAX)

Equities research analysts at Wolfe Research assumed coverage on shares of First Tracks Biotherapeutics (NASDAQ:TRAX) in a research report issued to clients and investors on Tuesday. The firm set an “outperform” rating and a $83.00 price target on the stock. Wolfe Research’s price objective would indicate a potential upside of 90.37% from the stock’s previous close.

TRAX has been the subject of several other research reports. Barclays raised their price target on First Tracks Biotherapeutics from $48.00 to $65.00 and gave the stock an “overweight” rating in a report on Thursday. UBS Group increased their price objective on shares of First Tracks Biotherapeutics from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Weiss Ratings began coverage on shares of First Tracks Biotherapeutics in a research note on Thursday. They issued a “sell (d)” rating for the company. Leerink Partners assumed coverage on shares of First Tracks Biotherapeutics in a research report on Friday, April 24th. They set an “outperform” rating and a $46.00 target price on the stock. Finally, Wall Street Zen upgraded shares of First Tracks Biotherapeutics to a “hold” rating in a research note on Saturday, May 2nd. Nine research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.00.

First Tracks Biotherapeutics Stock Performance

Shares of TRAX stock opened at $43.60 on Tuesday. First Tracks Biotherapeutics has a 12-month low of $14.72 and a 12-month high of $49.91. The business’s fifty day simple moving average is $30.95. The firm has a market capitalization of $1.52 billion and a P/E ratio of -23.70.

First Tracks Biotherapeutics (NASDAQ:TRAX) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.21). As a group, sell-side analysts forecast that First Tracks Biotherapeutics will post -4.02 earnings per share for the current year.

About First Tracks Biotherapeutics

First Tracks Biotherapeutics is a clinical stage biotechnology company advancing antibody therapies which modulate immune pathways implicated in autoimmune and inflammatory diseases. Its pipeline includes ANB033 and ANB101. First Tracks Biotherapeutics is based in SAN DIEGO.