First Tracks Biotherapeutics (NASDAQ:TRAX) Stock Has Average Price Target of $71.33 According to Analysts

Shares of First Tracks Biotherapeutics (NASDAQ:TRAX) have been given a consensus rating of “Moderate Buy” by the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $71.33.

Several brokerages recently commented on TRAX. Wolfe Research initiated coverage on First Tracks Biotherapeutics in a research report on Tuesday, August 18th. They issued an “outperform” rating and a $83.00 target price for the company. UBS Group initiated coverage on shares of First Tracks Biotherapeutics in a report on Wednesday, September 16th. They issued a “buy” rating on the stock. Barclays increased their price objective on shares of First Tracks Biotherapeutics from $48.00 to $65.00 and gave the company an “overweight” rating in a research note on Thursday, August 13th. Weiss Ratings raised shares of First Tracks Biotherapeutics from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. Finally, Guggenheim began coverage on shares of First Tracks Biotherapeutics in a research report on Wednesday, September 16th. They set a “buy” rating and a $100.00 target price on the stock.

First Tracks Biotherapeutics Price Performance

Shares of TRAX stock opened at $36.28 on Tuesday. First Tracks Biotherapeutics has a 12 month low of $14.72 and a 12 month high of $49.91. The company has a market cap of $1.30 billion and a P/E ratio of -19.72. The stock has a 50 day moving average price of $38.92.

First Tracks Biotherapeutics (NASDAQ:TRAX) last released 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). On average, equities analysts expect that First Tracks Biotherapeutics will post -4.31 EPS for the current year.

Insider Transactions 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 value of $1,758,286.70. Following the completion of the transaction, the director owned 15,660 shares of the company’s stock, valued at $701,254.80. This represents a 71.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Institutional Investors Weigh In On First Tracks Biotherapeutics

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

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.