First Tracks Biotherapeutics initiated with an Overweight at Barclays

Barclays initiated coverage of First Tracks Biotherapeutics (TRAX) with an Overweight rating and $40 price target The firm views the company’s ANB033 as an “anchor asset with significant upside potential” in immunology. The asset has “clinical de-risking” in celiac disease and eosinophilic esophagitis, the analyst tells investors in a research note.