First Tracks Biotherapeutics (NASDAQ:TRAX) Issues Quarterly Earnings Results

First Tracks Biotherapeutics (NASDAQ:TRAX) released its earnings results on Wednesday. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.21), Zacks reports.

First Tracks Biotherapeutics Trading Down 1.3%

TRAX stock traded down $0.62 during mid-day trading on Wednesday, hitting $46.13. 405,495 shares of the company were exchanged, compared to its average volume of 639,342. The company has a market cap of $1.61 billion and a price-to-earnings ratio of -25.07. The business has a 50 day simple moving average of $29.33. First Tracks Biotherapeutics has a 1-year low of $14.72 and a 1-year high of $49.91.

Analysts Set New Price Targets

Several brokerages have commented on TRAX. Wall Street Zen upgraded shares of First Tracks Biotherapeutics to a “hold” rating in a research report on Saturday, May 2nd. Piper Sandler began coverage on First Tracks Biotherapeutics in a research note on Monday, May 4th. They set an “overweight” rating and a $54.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on First Tracks Biotherapeutics in a report on Thursday, April 23rd. They issued an “overweight” rating and a $31.00 price objective for the company. Barclays boosted their target price on First Tracks Biotherapeutics from $40.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 21st. Finally, Leerink Partners initiated coverage on First Tracks Biotherapeutics in a research note on Friday, April 24th. They issued an “outperform” rating and a $46.00 price target for the company. Eight investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, First Tracks Biotherapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $50.38.

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.