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Praxis Precision Medicines (NASDAQ:PRAX) Posts Earnings Results, Beats Expectations By $0.09 EPS

Praxis Precision Medicines logo with Medical background

Key Points

  • Praxis Precision Medicines reported a quarterly EPS of ($3.31), exceeding analysts' expectations of ($3.40) by $0.09.
  • The company has a market capitalization of $1.10 billion and a negative return on equity of 50.42%.
  • Analysts have assigned a consensus rating of "Moderate Buy" with an average price target of $94.11 for the stock.
  • Interested in Praxis Precision Medicines? Here are five stocks we like better.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) released its quarterly earnings results on Monday. The company reported ($3.31) earnings per share for the quarter, beating analysts' consensus estimates of ($3.40) by $0.09, Zacks reports. Praxis Precision Medicines had a negative net margin of 2,137.48% and a negative return on equity of 50.42%.

Praxis Precision Medicines Stock Performance

NASDAQ PRAX opened at $54.09 on Monday. The firm's fifty day moving average price is $47.05 and its two-hundred day moving average price is $48.80. The stock has a market cap of $1.10 billion, a PE ratio of -5.05 and a beta of 2.62. Praxis Precision Medicines has a fifty-two week low of $26.70 and a fifty-two week high of $91.83.

Institutional Trading of Praxis Precision Medicines

An institutional investor recently raised its position in Praxis Precision Medicines stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 367.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 87,081 shares of the company's stock after purchasing an additional 68,466 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned 0.43% of Praxis Precision Medicines worth $3,298,000 as of its most recent filing with the SEC. 67.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PRAX has been the subject of a number of analyst reports. Oppenheimer lifted their price target on shares of Praxis Precision Medicines from $97.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Needham & Company LLC reiterated a "buy" rating and set a $80.00 price target on shares of Praxis Precision Medicines in a research report on Thursday, June 12th. Wedbush increased 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 reiterated a "buy" rating and set a $105.00 price target on shares of Praxis Precision Medicines in a research report on Friday, July 18th. Finally, Chardan Capital reiterated a "buy" rating and set a $80.00 price target on shares of Praxis Precision Medicines in a research report on Tuesday, July 29th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $94.11.

Read Our Latest Research Report on PRAX

Praxis Precision Medicines Company Profile

(Get Free Report)

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.

Further Reading

Earnings History for Praxis Precision Medicines (NASDAQ:PRAX)

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