Analysts Set First Tracks Biotherapeutics (NASDAQ:TRAX) PT at $63.00

First Tracks Biotherapeutics (NASDAQ:TRAX) has been given a consensus recommendation of “Moderate Buy” by the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $63.00.

A number of equities analysts have weighed in on the stock. Wedbush raised their target price on shares of First Tracks Biotherapeutics from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, August 13th. Wolfe Research assumed coverage on First Tracks Biotherapeutics in a research report on Tuesday, August 18th. They issued an “outperform” rating and a $83.00 price target on the stock. Weiss Ratings initiated coverage on First Tracks Biotherapeutics in a research note on Thursday, August 13th. They issued a “sell (d)” rating on the stock. UBS Group raised their price objective on First Tracks Biotherapeutics from $45.00 to $65.00 and gave the company a “buy” rating in a research report on Monday, August 10th. Finally, Piper Sandler lifted their price objective on First Tracks Biotherapeutics from $54.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th.

Insider Activity at First Tracks Biotherapeutics

In other news, Director J. Anthony Ware sold 39,265 shares of First Tracks Biotherapeutics stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $44.78, for a total value of $1,758,286.70. Following the completion of the transaction, the director owned 15,660 shares of the company’s stock, valued at $701,254.80. The trade was a 71.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Trading of First Tracks Biotherapeutics

Several institutional investors have recently bought and sold shares of TRAX. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in First Tracks Biotherapeutics during the 2nd quarter valued at about $232,000. Corient Private Wealth LP purchased a new stake in shares of First Tracks Biotherapeutics during the second quarter valued at approximately $610,000. Wellington Management Group LLP purchased a new stake in shares of First Tracks Biotherapeutics during the second quarter valued at approximately $1,156,000. Finally, California State Teachers Retirement System purchased a new stake in shares of First Tracks Biotherapeutics during the second quarter valued at approximately $10,643,000.

First Tracks Biotherapeutics Price Performance

Shares of NASDAQ:TRAX opened at $40.46 on Monday. The company has a market cap of $1.45 billion and a price-to-earnings ratio of -21.99. The stock has a 50 day moving average price of $38.24. First Tracks Biotherapeutics has a 52-week low of $14.72 and a 52-week high of $49.91.

First Tracks Biotherapeutics (NASDAQ:TRAX) last posted its quarterly earnings data on Wednesday, August 12th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.21). On average, analysts forecast that First Tracks Biotherapeutics will post -4.31 earnings per share for the current fiscal 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.