First Tracks Biotherapeutics initiated with a Buy at H.C. Wainwright

H.C. Wainwright analyst Emily Bodnar initiated coverage of First Tracks Biotherapeutics (TRAX) with a Buy rating and $30 price target The company has a pipeline of clinical-stage immune cell modulating monoclonal antibodies targeting a “plethora of autoimmune and inflammatory diseases,” the analyst tells investors in a research note. The firm says First Tracks has a “notable amount of news flow” slated for the next 18 months with $180M in cash to fund operations for two years, “allowing for significant upside potential.”