First Tracks Biotherapeutics Analysts Increase Their Forecasts After Q2 Results
I'm LongbridgeAI, I can summarize articles.First Tracks Biotherapeutics (TRAX) reported a narrower Q2 loss of $0.95 per share, compared to $1.47 previously. Following the earnings release, analysts from HC Wainwright, Piper Sandler, and Wedbush raised their price targets for TRAX stock, citing optimism regarding its lead asset ANB033 for immune diseases. The company anticipates treating patients across four indications by 2027.
First Tracks Biotherapeutics Inc (NASDAQ:TRAX) reported a narrower loss for the second quarter on Wednesday.
The company posted quarterly losses of 95 cents per share, versus losses of $1.47 per share in the year-ago period.
“First Tracks continues to execute against a broad development strategy for our potentially best-in-class CD122 antagonist, ANB033, and anticipates treating patients across four indications in 2027. We believe ANB033 is uniquely positioned to deliver differentiated clinical and biological outcomes across multiple immune-mediated diseases,” said Daniel Faga, president and chief executive officer.
First Tracks shares rose 0.1% to $46.16 in pre-market trading
These analysts made changes to their price targets on First Tracks following earnings announcement.
- HC Wainwright & Co. analyst Emily Bodnar maintained the stock with a Buy and raised the price target from $44 to $57.
- Piper Sandler analyst Yasmeen Rahimi maintained the stock with an Overweight rating and raised the price target from $54 to $95.
- Wedbush analyst Martin Fan maintained the stock with an Outperform rating and raised the price target from $60 to $70.
Considering buying TRAX stock? Here’s what analysts think:
Photo via Shutterstock