Canaccord Starts First Tracks Biotherapeutics (TRAX) at Buy

Canaccord analyst Edward Nash initiates coverage on First Tracks Biotherapeutics (NASDAQ: TRAX) with a Buy rating and a price target of $50.00.

The analyst comments "We are initiating coverage of First Tracks Biotherapeutics with a BUY rating and 12- month price target of $50. The company, a spin-off from AnaptysBio, has three clinical- stage assets: ANB033, rosnilimab, and ANB101. ANB033 accounts for approximately 95% of our assigned value and is currently being evaluated in two Phase Ib trials, with top-line data expected in celiac disease (CeD) in 4Q26 and 1Q27 and in eosinophilic esophagitis (EoE) in 3Q27. The remaining 5% of our valuation comes from rosnilimab, which recently reported positive Phase IIb data in rheumatoid arthritis but is paused pending a partner for Phase III development."

For an analyst ratings summary and ratings history on First Tracks Biotherapeutics click here. For more ratings news on First Tracks Biotherapeutics click here.

Shares of First Tracks Biotherapeutics closed at $35.98 yesterday.

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