First Wave BioPharma (NASDAQ:FWBI – Get Rating)'s stock had its "buy" rating restated by research analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $18.00 target price on the stock. HC Wainwright's price objective would indicate a potential upside of 231.49% from the stock's current price.
First Wave BioPharma Stock Performance
FWBI stock opened at $5.43 on Thursday. The business has a 50 day moving average price of $1.40 and a 200 day moving average price of $2.98. First Wave BioPharma has a fifty-two week low of $3.01 and a fifty-two week high of $348.60.
Get First Wave BioPharma alerts:First Wave BioPharma (NASDAQ:FWBI – Get Rating) last posted its earnings results on Monday, November 14th. The company reported $2.60 earnings per share for the quarter, topping the consensus estimate of ($3.01) by $5.61. Analysts forecast that First Wave BioPharma will post -43.53 EPS for the current fiscal year.
Institutional Investors Weigh In On First Wave BioPharma
An institutional investor recently raised its position in First Wave BioPharma stock. State Street Corp boosted its position in shares of First Wave BioPharma, Inc. (NASDAQ:FWBI – Get Rating) by 97.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 82,593 shares of the company's stock after buying an additional 40,755 shares during the period. State Street Corp owned 6.02% of First Wave BioPharma worth $122,000 as of its most recent SEC filing. Institutional investors own 1.98% of the company's stock.First Wave BioPharma Company Profile
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First Wave BioPharma, Inc, a clinical-stage biopharmaceutical company, engages in the research and development of targeted and non-systemic therapies for the treatment of patients with gastrointestinal diseases. Its product candidates include niclosamide, an oral small molecule with anti-viral and anti-inflammatory properties; and the biologic adrulipase, a recombinant lipase enzyme designed to enable the digestion of fats and other nutrients.
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