First Tracks Biotherapeutics (NASDAQ:TRAX) Coverage Initiated at Wolfe Research

Equities research analysts at Wolfe Research started 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 target suggests a potential upside of 90.37% from the stock’s previous close.

A number of other research analysts also recently issued reports on the company. Zacks Research raised First Tracks Biotherapeutics to a “hold” rating in a report on Monday, April 27th. Wells Fargo & Company raised their price objective on shares of First Tracks Biotherapeutics from $30.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 28th. Leerink Partners initiated coverage on shares of First Tracks Biotherapeutics in a report on Friday, April 24th. They set an “outperform” rating and a $46.00 target price for the company. UBS Group boosted their target price on shares of First Tracks Biotherapeutics from $45.00 to $65.00 and gave the company a “buy” rating in a research note on Monday, August 10th. Finally, JPMorgan Chase & Co. assumed coverage on shares of First Tracks Biotherapeutics in a report on Thursday, April 23rd. They set an “overweight” rating and a $31.00 price target on the stock. Nine equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.00.

First Tracks Biotherapeutics Price Performance

Shares of TRAX opened at $43.60 on Tuesday. The stock’s 50-day moving average is $30.95. The firm has a market cap of $1.52 billion and a P/E ratio of -23.70. First Tracks Biotherapeutics has a fifty-two week low of $14.72 and a fifty-two week high of $49.91.

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

First Tracks Biotherapeutics Company Profile

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.