Chardan Capital Brokers Lower Earnings Estimates for PRAX

Key Points

• Chardan Capital has reduced its FY2025 earnings estimate for Praxis Precision Medicines to ($12.80) per share, down from ($11.25), while maintaining a "Buy" rating and a target price of $80.00.
• Despite lower earnings estimates, the stock has received multiple "Buy" ratings from different brokerages, with price targets ranging from $80.00 to $115.00.
• Praxis Precision Medicines reported a quarterly earnings loss of ($3.31) per share, slightly beating the consensus estimate of ($3.40).

Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) - Stock analysts at Chardan Capital reduced their FY2025 EPS estimates for Praxis Precision Medicines in a research note issued on Wednesday, August 6th. Chardan Capital analyst R. Li now anticipates that the company will post earnings per share of ($12.80) for the year, down from their previous forecast of ($11.25). Chardan Capital currently has a "Buy" rating and a $80.00 target price on the stock. The consensus estimate for Praxis Precision Medicines' current full-year earnings is ($10.22) per share. Chardan Capital also issued estimates for Praxis Precision Medicines' FY2026 earnings at ($5.90) EPS.

Several other brokerages have also recently weighed in on PRAX. Wedbush boosted their price target on shares of Praxis Precision Medicines from $26.00 to $28.00 and gave the stock an "underperform" rating in a research report on Monday, May 5th. HC Wainwright reaffirmed a "buy" rating and set a $115.00 price objective (up from $105.00) on shares of Praxis Precision Medicines in a research note on Tuesday, August 5th. Oppenheimer lifted their price objective on shares of Praxis Precision Medicines from $97.00 to $115.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $80.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, June 12th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $95.22.

Praxis Precision Medicines Stock Performance

Shares of PRAX opened at $45.94 on Monday. The company's fifty day moving average is $48.11 and its 200 day moving average is $47.85. Praxis Precision Medicines has a fifty-two week low of $26.70 and a fifty-two week high of $91.83. The stock has a market capitalization of $967.04 million, a PE ratio of -3.74 and a beta of 2.62.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported ($3.31) earnings per share for the quarter, topping the consensus estimate of ($3.40) by $0.09. Praxis Precision Medicines had a negative net margin of 2,137.48% and a negative return on equity of 60.07%.

Institutional Investors Weigh In On Praxis Precision Medicines

A number of large investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its position in shares of Praxis Precision Medicines by 88.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 629 shares of the company's stock valued at $26,000 after buying an additional 295 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Praxis Precision Medicines during the 4th quarter valued at approximately $30,000. CWM LLC lifted its position in shares of Praxis Precision Medicines by 877.9% during the 2nd quarter. CWM LLC now owns 753 shares of the company's stock valued at $32,000 after buying an additional 676 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Praxis Precision Medicines by 6,075.4% during the 1st quarter. GAMMA Investing LLC now owns 4,014 shares of the company's stock valued at $152,000 after buying an additional 3,949 shares in the last quarter. Finally, Graham Capital Management L.P. purchased a new position in shares of Praxis Precision Medicines during the 4th quarter valued at approximately $209,000. Hedge funds and other institutional investors own 67.84% of the company's stock.

About Praxis Precision Medicines

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, engages in the development of therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance. It is developing ulixacaltamide, a small molecule inhibitor of T-type calcium channels that is in Phase III clinical trial for the treatment of essential tremor; PRAX-562 for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEE); and PRAX-628 to treat focal epilepsy.

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