Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) shares were down 5.6% on Friday . The company traded as low as $37.03 and last traded at $36.31. Approximately 6,030 shares were traded during mid-day trading, a decline of 98% from the average daily volume of 385,349 shares. The stock had previously closed at $38.45.
Analysts Set New Price Targets
Several brokerages have recently commented on PRAX. Chardan Capital assumed coverage on shares of Praxis Precision Medicines in a research report on Wednesday, May 7th. They set a "buy" rating and a $80.00 price objective on the stock. Robert W. Baird decreased their price target on Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating on the stock in a report on Monday, March 3rd. Needham & Company LLC reissued a "buy" rating and issued a $80.00 price objective on shares of Praxis Precision Medicines in a research note on Monday, May 5th. Deutsche Bank Aktiengesellschaft assumed coverage on Praxis Precision Medicines in a research report on Tuesday, February 11th. They set a "buy" rating and a $111.00 target price for the company. Finally, HC Wainwright reiterated a "buy" rating and issued a $105.00 target price on shares of Praxis Precision Medicines in a report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $109.90.
Get Our Latest Report on PRAX
Praxis Precision Medicines Stock Performance
The stock has a fifty day moving average price of $35.66 and a 200-day moving average price of $56.69. The firm has a market capitalization of $839.20 million, a PE ratio of -4.00 and a beta of 2.65.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.20) by ($0.09). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. Research analysts expect that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently modified their holdings of PRAX. GF Fund Management CO. LTD. acquired a new stake in Praxis Precision Medicines in the fourth quarter valued at approximately $30,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Praxis Precision Medicines during the 4th quarter valued at $48,000. GAMMA Investing LLC boosted its position in shares of Praxis Precision Medicines by 6,075.4% in the 1st quarter. GAMMA Investing LLC now owns 4,014 shares of the company's stock worth $152,000 after purchasing an additional 3,949 shares in the last quarter. Graham Capital Management L.P. purchased a new position in Praxis Precision Medicines during the 4th quarter worth $209,000. Finally, KLP Kapitalforvaltning AS purchased a new position in Praxis Precision Medicines during the 4th quarter worth $215,000. Institutional investors own 67.84% of the company's stock.
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.
Recommended Stories
Before you consider Praxis Precision Medicines, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Praxis Precision Medicines wasn't on the list.
While Praxis Precision Medicines currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.