First Tracks Biotherapeutics (NASDAQ:TRAX) Stock Has Consensus Target Price of $66.55 According to Analysts

Key Points

• Analysts maintain a Moderate Buy consensus on First Tracks Biotherapeutics, with 11 buy ratings, one hold, and one sell among 13 firms. The average 12-month price target is $66.55, versus a recent share price of $35.83.
• Recent coverage has been mixed, with price targets ranging from $65 at Evercore to $100 at Guggenheim; Wolfe Research set an $83 target. The company’s latest quarterly loss of $0.95 per share missed the $0.74 consensus estimate.
• Institutional investors, including State Street, initiated positions during the second quarter, while director J. Ware sold 39,265 shares for approximately $1.76 million, reducing his holdings by 71.49%.

First Tracks Biotherapeutics (NASDAQ:TRAX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the thirteen brokerages that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and eleven have issued a buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $66.55.

TRAX has been the topic of a number of recent analyst reports. Weiss Ratings assumed coverage on shares of First Tracks Biotherapeutics in a research report on Thursday, August 13th. They set a "sell (d)" rating on the stock. UBS Group started coverage on shares of First Tracks Biotherapeutics in a research note on Wednesday, September 16th. They issued a "buy" rating for the company. Evercore started coverage on shares of First Tracks Biotherapeutics in a research report on Friday, September 18th. They set an "outperform" rating and a $65.00 target price on the stock. Wolfe Research started coverage on First Tracks Biotherapeutics in a research note on Tuesday, August 18th. They issued an "outperform" rating and a $83.00 target price on the stock. Finally, Guggenheim started coverage on First Tracks Biotherapeutics in a report on Wednesday, September 16th. They issued a "buy" rating and a $100.00 target price for the company.

Insider Buying and Selling at First Tracks Biotherapeutics

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRAX. State Street Corp bought a new position in shares of First Tracks Biotherapeutics during the 2nd quarter valued at approximately $30,439,000. Opaleye Management Inc. purchased a new position in First Tracks Biotherapeutics in the second quarter valued at approximately $1,308,000. Wellington Management Group LLP bought a new position in First Tracks Biotherapeutics during the second quarter valued at $1,156,000. Tidal Investments LLC purchased a new stake in First Tracks Biotherapeutics in the second quarter worth $622,000. Finally, Corient Private Wealth LP purchased a new stake in First Tracks Biotherapeutics in the second quarter worth $610,000.

First Tracks Biotherapeutics Stock Performance

Shares of TRAX opened at $35.83 on Friday. First Tracks Biotherapeutics has a one year low of $14.72 and a one year high of $49.91. The firm has a market cap of $1.28 billion and a P/E ratio of -19.47. The company has a 50-day moving average price of $41.77.

First Tracks Biotherapeutics (NASDAQ:TRAX - Get Free Report) last released its quarterly earnings results 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). Equities research analysts predict that First Tracks Biotherapeutics will post -4.31 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.

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