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

First Tracks Biotherapeutics (NASDAQ:TRAX) had its price objective hoisted by stock analysts at Leerink Partners from $70.00 to $90.00 in a research report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Leerink Partners’ price objective would indicate a potential upside of 149.72% from the company’s previous close.

A number of other research analysts have also recently commented on the company. Evercore restated an “outperform” rating and issued a $70.00 target price on shares of First Tracks Biotherapeutics in a research note on Tuesday. Barclays raised their price objective on First Tracks Biotherapeutics from $48.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, August 13th. HC Wainwright restated a “buy” rating and set a $57.00 target price on shares of First Tracks Biotherapeutics in a report on Thursday, September 3rd. Wall Street Zen cut shares of First Tracks Biotherapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. Finally, Canaccord Genuity Group upped their target price on shares of First Tracks Biotherapeutics from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, First Tracks Biotherapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $71.33.

First Tracks Biotherapeutics Trading Up 5.6%

First Tracks Biotherapeutics stock opened at $36.04 on Friday. The firm’s 50 day moving average price is $39.37. First Tracks Biotherapeutics has a fifty-two week low of $14.72 and a fifty-two week high of $49.91.

First Tracks Biotherapeutics (NASDAQ:TRAX) last posted its earnings results on Wednesday, August 12th. The company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.74) by ($0.21). As a group, analysts forecast that First Tracks Biotherapeutics will post -4.31 earnings per share for the current year.

Insider Transactions at First Tracks Biotherapeutics

In other First Tracks Biotherapeutics news, Director J. Ware sold 39,265 shares of the stock in a transaction on 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 sale, the director directly owned 15,660 shares in the company, valued at approximately $701,254.80. This trade represents a 71.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Investors Weigh In On First Tracks Biotherapeutics

Several institutional investors have recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of First Tracks Biotherapeutics during the second quarter valued at $232,000. Corient Private Wealth LP purchased a new position in First Tracks Biotherapeutics in the 2nd quarter worth about $610,000. Tidal Investments LLC purchased a new position in First Tracks Biotherapeutics in the 2nd quarter worth about $622,000. Wellington Management Group LLP purchased a new position in First Tracks Biotherapeutics in the 2nd quarter worth about $1,156,000. Finally, Opaleye Management Inc. bought a new position in First Tracks Biotherapeutics during the 2nd quarter valued at about $1,308,000.

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.