Wedbush Issues Positive Forecast for First Tracks Biotherapeutics (NASDAQ:TRAX) Stock Price

Key Points

• Wedbush raised its price target for First Tracks Biotherapeutics (NASDAQ:TRAX) from $60 to $70 while maintaining an “outperform” rating, implying 51.75% upside from the prior close.
• Analyst sentiment is broadly positive: eight analysts rate the stock “Buy” and one rates it “Hold,” producing a consensus “Moderate Buy” rating and an average price target of $60.50.
• TRAX opened at $46.13 and has risen substantially toward its 52-week high of $49.91, though the company reported a quarterly EPS loss of $0.95, worse than the $0.74 consensus estimate.

First Tracks Biotherapeutics (NASDAQ:TRAX - Get Free Report) had its price objective hoisted by investment analysts at Wedbush from $60.00 to $70.00 in a report released on Thursday,Benzinga reports. The firm presently has an "outperform" rating on the stock. Wedbush's target price indicates a potential upside of 51.75% from the company's previous close.

Several other equities research analysts also recently issued reports on TRAX. Piper Sandler boosted their price objective on First Tracks Biotherapeutics from $54.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday. HC Wainwright upped their price target on First Tracks Biotherapeutics from $44.00 to $57.00 and gave the stock a "buy" rating in a report on Thursday. Leerink Partners assumed coverage on First Tracks Biotherapeutics in a research report on Friday, April 24th. They set an "outperform" rating and a $46.00 price objective for the company. UBS Group raised their price objective on shares of First Tracks Biotherapeutics from $45.00 to $65.00 and gave the company a "buy" rating in a report on Monday. Finally, Wall Street Zen raised First Tracks Biotherapeutics to a "hold" rating in a report on Saturday, May 2nd. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, First Tracks Biotherapeutics has a consensus rating of "Moderate Buy" and a consensus price target of $60.50.

First Tracks Biotherapeutics Stock Performance

NASDAQ TRAX opened at $46.13 on Thursday. First Tracks Biotherapeutics has a 1-year low of $14.72 and a 1-year high of $49.91. The firm has a 50 day moving average price of $29.33. The stock has a market capitalization of $1.61 billion and a P/E ratio of -25.07.

First Tracks Biotherapeutics (NASDAQ:TRAX - Get Free Report) last posted its quarterly earnings results on Wednesday, August 12th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.74) by ($0.21). Research analysts forecast that First Tracks Biotherapeutics will post -3.42 EPS 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.

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