Zacks: Brokerages Anticipate First Wave BioPharma, Inc. (NASDAQ:FWBI) Will Post Earnings of -$0.39 Per Share

Equities analysts expect First Wave BioPharma, Inc. (NASDAQ:FWBI – Get Rating) to report earnings of ($0.39) per share for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for First Wave BioPharma’s earnings, with the highest EPS estimate coming in at ($0.25) and the lowest estimate coming in at ($0.53). First Wave BioPharma reported earnings of ($1.40) per share in the same quarter last year, which would indicate a positive year over year growth rate of 72.1%. The company is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that First Wave BioPharma will report full-year earnings of ($1.34) per share for the current financial year, with EPS estimates ranging from ($1.59) to ($1.08). For the next year, analysts forecast that the company will report earnings of ($0.64) per share, with EPS estimates ranging from ($0.78) to ($0.50). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover First Wave BioPharma.

Separately, Zacks Investment Research raised shares of First Wave BioPharma from a “hold” rating to a “buy” rating and set a $1.50 target price on the stock in a report on Wednesday, January 19th.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in First Wave BioPharma during the 3rd quarter valued at $31,000. Parsons Capital Management Inc. RI acquired a new stake in shares of First Wave BioPharma in the third quarter valued at $47,000. Geode Capital Management LLC raised its holdings in shares of First Wave BioPharma by 69.4% in the fourth quarter. Geode Capital Management LLC now owns 80,887 shares of the company’s stock valued at $116,000 after buying an additional 33,143 shares during the last quarter. GSA Capital Partners LLP acquired a new position in First Wave BioPharma during the 4th quarter worth about $118,000. Finally, Bank of New York Mellon Corp bought a new stake in First Wave BioPharma during the 3rd quarter worth about $243,000. 3.76% of the stock is currently owned by institutional investors and hedge funds.

First Wave BioPharma stock opened at $0.68 on Tuesday. The firm has a market capitalization of $11.32 million, a P/E ratio of -0.07 and a beta of 1.61. The stock has a fifty day moving average price of $1.13 and a two-hundred day moving average price of $1.64. First Wave BioPharma has a 52-week low of $0.66 and a 52-week high of $10.70.

About First Wave BioPharma (Get Rating)

First Wave BioPharma, Inc, a clinical-stage biopharmaceutical company, specializes in the development of targeted, non-systemic therapies for gastrointestinal diseases. The company is advancing a therapeutic development pipeline populated with various clinical stage programs built around its two proprietary technologies, known as 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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