First Tracks Biotherapeutics (NASDAQ:TRAX) Price Target Raised to $90.00

First Tracks Biotherapeutics (NASDAQ:TRAX) had its price target lifted by Leerink Partners from $70.00 to $90.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

TRAX has been the topic of several other reports. UBS Group began coverage on shares of First Tracks Biotherapeutics in a report on Wednesday, September 16th. They issued a “buy” rating on the stock. Wolfe Research began coverage on First Tracks Biotherapeutics in a report on Tuesday, August 18th. They set an “outperform” rating and a $83.00 price objective for the company. Wall Street Zen cut First Tracks Biotherapeutics from a “hold” rating to a “sell” rating in a report on Saturday, September 5th. Weiss Ratings raised First Tracks Biotherapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Finally, Barclays upped their target price 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. Twelve research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $71.33.

First Tracks Biotherapeutics Stock Performance

NASDAQ TRAX opened at $34.46 on Friday. The business’s 50-day moving average is $39.16. The firm has a market cap of $1.23 billion and a PE ratio of -18.73. First Tracks Biotherapeutics has a 52-week low of $14.72 and a 52-week high of $49.91.

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

Insiders Place Their Bets

In other First Tracks Biotherapeutics news, Director J. Ware sold 39,265 shares of First Tracks Biotherapeutics stock in a transaction on Wednesday, September 2nd. The stock was 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 directly owned 15,660 shares of the company’s stock, valued at $701,254.80. The trade was a 71.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Trading of First Tracks Biotherapeutics

Large investors have recently modified their holdings of the stock. State Street Corp bought a new position in shares of First Tracks Biotherapeutics in the second quarter worth $30,439,000. Opaleye Management Inc. acquired a new position in First Tracks Biotherapeutics in the second quarter valued at about $1,308,000. Tidal Investments LLC acquired a new position in First Tracks Biotherapeutics in the second quarter valued at about $622,000. Corient Private Wealth LP acquired a new position in First Tracks Biotherapeutics in the second quarter valued at about $610,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in First Tracks Biotherapeutics during the second quarter worth about $232,000.

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.