FY2023 EPS Estimates for First Wave BioPharma, Inc. Lifted by Analyst (NASDAQ:FWBI)

First Wave BioPharma, Inc. (NASDAQ:FWBI) – Equities research analysts at HC Wainwright increased their FY2023 EPS estimates for shares of First Wave BioPharma in a report issued on Monday, March 25th. HC Wainwright analyst Y. Chen now forecasts that the company will post earnings of ($35.88) per share for the year, up from their prior forecast of ($46.60). HC Wainwright has a “Neutral” rating on the stock. The consensus estimate for First Wave BioPharma’s current full-year earnings is ($46.82) per share. HC Wainwright also issued estimates for First Wave BioPharma’s Q4 2023 earnings at ($3.14) EPS, Q1 2024 earnings at ($1.92) EPS, Q2 2024 earnings at ($1.67) EPS, Q3 2024 earnings at ($1.23) EPS, Q4 2024 earnings at ($0.97) EPS and FY2024 earnings at ($5.39) EPS.

Separately, Roth Mkm lowered their target price on First Wave BioPharma from $40.00 to $36.00 and set a “buy” rating for the company in a research note on Friday, March 15th.

First Wave BioPharma Price Performance

NASDAQ:FWBI opened at $3.95 on Wednesday. First Wave BioPharma has a 1-year low of $2.75 and a 1-year high of $73.00. The business has a 50 day moving average of $5.37 and a 200 day moving average of $5.59. The company has a market capitalization of $2.69 million, a price-to-earnings ratio of -0.01 and a beta of 1.29.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of FWBI. Armistice Capital LLC purchased a new stake in First Wave BioPharma during the fourth quarter valued at $257,000. State Street Corp increased its position in shares of First Wave BioPharma by 97.4% during the 3rd quarter. State Street Corp now owns 82,593 shares of the company’s stock valued at $122,000 after purchasing an additional 40,755 shares during the last quarter. Finally, Citigroup Inc. purchased a new stake in shares of First Wave BioPharma during the 1st quarter valued at about $39,000. 12.30% of the stock is owned by hedge funds and other institutional investors.

First Wave BioPharma Company Profile

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 the biologic adrulipase, a recombinant lipase enzyme designed to enable the digestion of fats and other nutrients; and niclosamide, an oral small molecule with anti-viral and anti-inflammatory properties.