First Tracks Biotherapeutics (NASDAQ:TRAX) Stock Has Consensus Price Target of $72.17

Key Points

• Analyst sentiment is broadly positive: 12 of 14 analysts rate First Tracks Biotherapeutics a buy, with one hold and one sell; the consensus rating is “Moderate Buy” and the average 12-month price target is $72.17.
• Recent analyst updates included higher targets from Guggenheim ($110), Canaccord Genuity ($60) and Wells Fargo ($70), all with positive ratings.
• Shares fell 3.3% to $47.10 in Friday mid-day trading. The company reported a quarterly loss of $0.88 per share, narrower than analysts’ estimate of $0.92.

Shares of First Tracks Biotherapeutics (NASDAQ:TRAX - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and twelve have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $72.17.

A number of equities analysts recently weighed in on TRAX shares. Guggenheim increased their price objective on shares of First Tracks Biotherapeutics from $100.00 to $110.00 and gave the stock a "buy" rating in a research report on Wednesday, November 4th. Wall Street Zen raised First Tracks Biotherapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, October 17th. Canaccord Genuity Group upped their price target on First Tracks Biotherapeutics from $50.00 to $60.00 and gave the stock a "buy" rating in a research note on Tuesday, October 13th. Wolfe Research started coverage on First Tracks Biotherapeutics in a research note on Tuesday, August 18th. They set an "outperform" rating and a $83.00 price target on the stock. Finally, Wells Fargo & Company raised their price target on First Tracks Biotherapeutics from $62.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, October 12th.

First Tracks Biotherapeutics Stock Down 3.3%

TRAX stock traded down $1.60 during mid-day trading on Friday, hitting $47.10. 462,166 shares of the company were exchanged, compared to its average volume of 718,417. The firm has a market capitalization of $1.98 billion and a P/E ratio of -16.88. The business has a fifty day simple moving average of $39.90 and a 200-day simple moving average of $32.49. First Tracks Biotherapeutics has a 12-month low of $14.72 and a 12-month high of $54.78.

First Tracks Biotherapeutics (NASDAQ:TRAX - Get Free Report) last announced its quarterly earnings results on Tuesday, November 3rd. The company reported ($0.88) earnings per share for the quarter, beating analysts' consensus estimates of ($0.92) by $0.04. Research analysts predict that First Tracks Biotherapeutics will post -4.24 EPS for the current year.

Insider Activity

In related news, Director J. Ware sold 39,265 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $44.78, for a total transaction of $1,758,286.70. Following the transaction, the director owned 15,660 shares of the company's stock, valued at approximately $701,254.80. This represents a 71.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of First Tracks Biotherapeutics

Institutional investors and hedge funds have recently bought and sold shares of the business. HighVista Strategies LLC acquired a new stake in shares of First Tracks Biotherapeutics during the third quarter worth about $2,473,000. Bleakley Financial Group LLC acquired a new position in shares of First Tracks Biotherapeutics in the third quarter valued at approximately $907,000. State Street Corp grew its holdings in shares of First Tracks Biotherapeutics by 6.5% in the third quarter. State Street Corp now owns 1,610,805 shares of the company's stock valued at $57,087,000 after purchasing an additional 97,909 shares in the last quarter. Voya Investment Management LLC purchased a new stake in First Tracks Biotherapeutics during the 3rd quarter worth approximately $226,000. Finally, AlphaCentric Advisors LLC purchased a new stake in First Tracks Biotherapeutics during the 3rd quarter worth approximately $348,000.

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.

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