Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) - Equities research analysts at Wedbush increased their Q2 2024 EPS estimates for Praxis Precision Medicines in a research note issued to investors on Monday, April 8th. Wedbush analyst L. Chico now anticipates that the company will post earnings per share of ($1.73) for the quarter, up from their previous estimate of ($2.14). Wedbush has a "Neutral" rating and a $29.00 price target on the stock. The consensus estimate for Praxis Precision Medicines' current full-year earnings is ($8.85) per share. Wedbush also issued estimates for Praxis Precision Medicines' Q3 2024 earnings at ($1.76) EPS, Q4 2024 earnings at ($1.79) EPS, FY2024 earnings at ($7.01) EPS, FY2025 earnings at ($5.47) EPS, FY2026 earnings at ($4.07) EPS, FY2027 earnings at ($3.05) EPS and FY2028 earnings at ($1.45) EPS.
PRAX has been the subject of a number of other research reports. HC Wainwright reissued a "buy" rating and set a $105.00 price objective on shares of Praxis Precision Medicines in a research report on Tuesday, March 26th. Jefferies Financial Group boosted their price objective on shares of Praxis Precision Medicines from $75.00 to $128.00 and gave the company a "buy" rating in a research report on Tuesday, March 26th.
Get Our Latest Stock Analysis on Praxis Precision Medicines
Praxis Precision Medicines Stock Performance
Shares of PRAX stock traded up $3.25 during mid-day trading on Thursday, reaching $53.82. 238,986 shares of the company's stock traded hands, compared to its average volume of 217,757. Praxis Precision Medicines has a 12 month low of $12.45 and a 12 month high of $67.21. The firm has a 50 day moving average price of $50.24 and a two-hundred day moving average price of $32.45. The firm has a market capitalization of $712.58 million, a PE ratio of -2.27 and a beta of 2.89.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($2.97) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($3.05) by $0.08. Praxis Precision Medicines had a negative net margin of 5,037.88% and a negative return on equity of 151.02%. The firm had revenue of $0.52 million during the quarter, compared to the consensus estimate of $0.30 million.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the company. Simplex Trading LLC bought a new position in Praxis Precision Medicines in the 4th quarter worth $31,000. Barclays PLC bought a new position in Praxis Precision Medicines in the 4th quarter worth $206,000. DLD Asset Management LP bought a new position in Praxis Precision Medicines in the 4th quarter worth $223,000. Legal & General Group Plc boosted its holdings in Praxis Precision Medicines by 61.2% in the 2nd quarter. Legal & General Group Plc now owns 12,736 shares of the company's stock worth $31,000 after buying an additional 4,834 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new position in Praxis Precision Medicines in the 1st quarter worth $139,000. Institutional investors own 67.84% of the company's stock.
Praxis Precision Medicines Company Profile
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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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