First Tracks Biotherapeutics (NASDAQ:TRAX) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS

First Tracks Biotherapeutics (NASDAQ:TRAX) announced its quarterly earnings data on Tuesday. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.92) by $0.04, Zacks reports.

First Tracks Biotherapeutics Stock Down 2.4%

NASDAQ:TRAX opened at $47.88 on Thursday. First Tracks Biotherapeutics has a fifty-two week low of $14.72 and a fifty-two week high of $50.17. The company has a market cap of $2.01 billion and a PE ratio of -25.80. The firm has a 50-day moving average price of $39.10.

Insider Activity

In other 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 completion of the sale, the director owned 15,660 shares in the company, valued at approximately $701,254.80. This 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.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TRAX. Wedbush raised their price target on shares of First Tracks Biotherapeutics from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, August 13th. Guggenheim increased their price target on First Tracks Biotherapeutics from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company boosted their price objective on First Tracks Biotherapeutics from $62.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, October 12th. Evercore reaffirmed an “outperform” rating and set a $70.00 target price on shares of First Tracks Biotherapeutics in a research report on Tuesday, October 13th. Finally, UBS Group started coverage on First Tracks Biotherapeutics in a report on Wednesday, September 16th. They issued a “buy” rating on the stock. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $72.17.

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.