First Wave BioPharma Inc. (FWBI) Price Target: Is It Set To Rise Or Fall In Price?

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First Wave BioPharma Inc. (NASDAQ:FWBI) finished Wednesday with an addition of $0.98 to close at $5.40, an upside of 22.17 percent. An average of 3,852,520 shares of common stock have been traded in the last five days. There was a gain of $0.56 in the past week, and it reached a new high 8 times over the past 12 months. The last 20 days have seen an average of 1,269,914 shares traded, while the 50-day average volume stands at 532,753.

FWBI stock has increased by 62.10% in the last month. The company shares reached their 1-month lowest point of $3.06 on 12/27/22. With the stock rallying to its 52-week high on 01/05/23, shares of the company touched a low of $3.01 and a high of $348.60 in 52 weeks. It has reached a new high 3 times so far this year and lost -11.90% or -$0.73 in price. In spite of this, the price is down -98.45% from the 52-week high.

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Financial Health

The quick ratio of First Wave BioPharma Inc. for the three months ended September 29 was 0.40, and the current ratio was 0.40, indicating that the company is not able to meet its debt obligations. Its gross profit as reported stood at $11000.0 compared to revenue of $59.06 million.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, First Wave BioPharma Inc.’s return on assets was -283.80%.

Earnings Surprise

In the quarter under review, the net income was down than the previous quarter. The company posted a net income of $4.23 million in the quarter, while revenues were grew 400.95%. The analyst consensus anticipated First Wave BioPharma Inc.’s latest quarter earnings to come in at -$21.07 per share, but it turned out to be $18.2, a 186.40% surprise. For the quarter, EBITDA amounted to $4.4 million. Shareholders own equity worth $5.79 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at First Wave BioPharma Inc. (FWBI) price momentum. RSI 9-day as of the close on 25 January was 54.02%, suggesting the stock is Neutral, with historical volatility in this time frame at 157.95%.

As of today, FWBI’s price is $4.74 +11.57% or $0.56 from its 5-day moving average. FWBI is currently trading +67.70% higher than its 20-day SMA and -74.87% lower than its 100-day SMA. However, the stock’s current price level is -11.33% below the SMA50 and -96.70% below the SMA200.

The stochastic %K and %D were 18.40% and 16.74%, respectively, and the average true range (ATR) was 1.24. With the 14-day stochastic at 30.33% and the average true range at 1.19, the RSI (14) stands at 51.53%. The stock has reached 0.06 on the 9-day MACD Oscillator while the 14-day reading was at -0.68.

Analyst Ratings

The consensus rating for First Wave BioPharma Inc. (FWBI) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell FWBI, while 0 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 2 others rate it as a “buy”.

What is FWBI’s price target for the next 12 months?

Analysts predict a range of price targets between $28.00 and $126.00, with a median target of $77.00. Taking a look at these predictions, the average price target given by analysts for First Wave BioPharma Inc. (FWBI) stock is $77.00.

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