First Tracks Biotherapeutics' (TRAX) Buy Rating Reiterated at HC Wainwright

Key Points

• HC Wainwright reiterated its “buy” rating on First Tracks Biotherapeutics and set a $57 price target, implying 25.88% potential upside from the current price.
• Analyst sentiment is broadly positive, with nine buy ratings, one hold and one sell; the consensus rating is “Moderate Buy” with an average target of $63.
• TRAX shares rose 10% to open at $45.28, while the company’s latest quarterly loss of $0.95 per share missed estimates of $0.74 and analysts expect a full-year loss of $4.31 per share.

First Tracks Biotherapeutics (NASDAQ:TRAX - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They currently have a $57.00 price target on the stock. HC Wainwright's price objective would suggest a potential upside of 25.88% from the stock's current price.

A number of other research analysts have also recently issued reports on the stock. Weiss Ratings started coverage on shares of First Tracks Biotherapeutics in a research note on Thursday, August 13th. They issued a "sell (d)" rating for the company. Piper Sandler lifted their price target on First Tracks Biotherapeutics from $54.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday, August 13th. Wolfe Research initiated coverage on shares of First Tracks Biotherapeutics in a report on Tuesday, August 18th. They issued an "outperform" rating and a $83.00 price target for the company. Barclays boosted their target price on First Tracks Biotherapeutics from $48.00 to $65.00 and gave the stock an "overweight" rating in a research report on Thursday, August 13th. Finally, Wedbush upped 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 report on Thursday, August 13th. Nine equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, First Tracks Biotherapeutics currently has an average rating of "Moderate Buy" and an average target price of $63.00.

First Tracks Biotherapeutics Trading Up 10.0%

Shares of TRAX stock opened at $45.28 on Thursday. The company has a fifty day moving average of $37.23. The firm has a market cap of $1.62 billion and a price-to-earnings ratio of -24.61. First Tracks Biotherapeutics has a one year low of $14.72 and a one year high of $49.91.

First Tracks Biotherapeutics (NASDAQ:TRAX - Get Free Report) last issued 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). As a group, research analysts anticipate that First Tracks Biotherapeutics will post -4.31 EPS for the current year.

Hedge Funds Weigh In On First Tracks Biotherapeutics

Several hedge funds have recently made changes to their positions in TRAX. Corient Private Wealth LP bought a new stake in shares of First Tracks Biotherapeutics in the second quarter worth $610,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in First Tracks Biotherapeutics in the second quarter valued at $232,000. California State Teachers Retirement System acquired a new stake in First Tracks Biotherapeutics in the 2nd quarter valued at $10,643,000. Finally, Wellington Management Group LLP bought a new stake in First Tracks Biotherapeutics during the 2nd quarter worth about $1,156,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source