First Tracks Biotherapeutics (NASDAQ:TRAX) Announces Quarterly Earnings Results, Misses Expectations By $0.21 EPS

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

First Tracks Biotherapeutics Stock Down 1.3%

Shares of First Tracks Biotherapeutics stock traded down $0.62 during midday trading on Wednesday, reaching $46.13. The company had a trading volume of 405,495 shares, compared to its average volume of 639,342. The firm has a market cap of $1.61 billion and a P/E ratio of -25.07. The company’s fifty day moving average is $29.33. First Tracks Biotherapeutics has a 1-year low of $14.72 and a 1-year high of $49.91.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Barclays boosted their target price on shares of First Tracks Biotherapeutics from $40.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, July 21st. JPMorgan Chase & Co. began coverage on First Tracks Biotherapeutics in a research report on Thursday, April 23rd. They set an “overweight” rating and a $31.00 price target on the stock. Piper Sandler started coverage on First Tracks Biotherapeutics in a report on Monday, May 4th. They set an “overweight” rating and a $54.00 price target for the company. Zacks Research raised First Tracks Biotherapeutics to a “hold” rating in a research note on Monday, April 27th. Finally, Wells Fargo & Company increased their target price on First Tracks Biotherapeutics from $30.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Eight equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, First Tracks Biotherapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target 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.