Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) was up 5.1% on Monday . The stock traded as high as $53.75 and last traded at $52.83. Approximately 57,423 shares traded hands during mid-day trading, a decline of 73% from the average daily volume of 216,236 shares. The stock had previously closed at $50.26.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. HC Wainwright reissued a "buy" rating and set a $105.00 price objective on shares of Praxis Precision Medicines in a research note on Tuesday, March 26th. Jefferies Financial Group lifted their price objective on Praxis Precision Medicines from $75.00 to $128.00 and gave the company a "buy" rating in a research note on Tuesday, March 26th. Finally, Wedbush lifted their price objective on Praxis Precision Medicines from $16.00 to $29.00 and gave the company a "neutral" rating in a research note on Friday, January 12th.
View Our Latest Stock Analysis on Praxis Precision Medicines
Praxis Precision Medicines Price Performance
The company has a 50 day simple moving average of $49.63 and a 200-day simple moving average of $31.95. The stock has a market cap of $710.86 million, a P/E ratio of -2.27 and a beta of 2.89.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($2.97) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.05) by $0.08. Praxis Precision Medicines had a negative return on equity of 151.02% and a negative net margin of 5,037.88%. The firm had revenue of $0.52 million during the quarter, compared to analyst estimates of $0.30 million. As a group, research analysts expect that Praxis Precision Medicines, Inc. will post -8.85 earnings per share for the current year.
Institutional Investors Weigh In On Praxis Precision Medicines
Hedge funds have recently added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Praxis Precision Medicines by 557.0% in the 4th quarter. Barclays PLC now owns 10,539 shares of the company's stock valued at $25,000 after acquiring an additional 8,935 shares during the last quarter. Simplex Trading LLC bought a new stake in shares of Praxis Precision Medicines in the 4th quarter valued at about $31,000. Legal & General Group Plc lifted its stake in shares of Praxis Precision Medicines by 61.2% in the 2nd quarter. Legal & General Group Plc now owns 12,736 shares of the company's stock valued at $31,000 after acquiring an additional 4,834 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Praxis Precision Medicines by 66.1% in the 1st quarter. JPMorgan Chase & Co. now owns 38,001 shares of the company's stock valued at $31,000 after acquiring an additional 15,121 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Praxis Precision Medicines by 81.7% in the 1st quarter. Squarepoint Ops LLC now owns 46,537 shares of the company's stock valued at $38,000 after acquiring an additional 20,919 shares during the last quarter. Institutional investors own 67.84% of the company's stock.
About Praxis Precision Medicines
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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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