Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) - Equities research analysts at HC Wainwright dropped their FY2029 EPS estimates for shares of Praxis Precision Medicines in a report issued on Monday, May 5th. HC Wainwright analyst D. Tsao now forecasts that the company will post earnings of $22.65 per share for the year, down from their prior forecast of $23.38. HC Wainwright has a "Buy" rating and a $105.00 price objective on the stock. The consensus estimate for Praxis Precision Medicines' current full-year earnings is ($10.22) per share.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced 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 return on equity of 54.86% and a negative net margin of 9,409.22%.
Other analysts also recently issued research reports about the company. Wedbush boosted their target price on Praxis Precision Medicines from $26.00 to $28.00 and gave the stock an "underperform" rating in a research report on Monday. Robert W. Baird lowered their price objective on shares of Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Needham & Company LLC reaffirmed a "buy" rating and set a $80.00 target price on shares of Praxis Precision Medicines in a report on Monday. Deutsche Bank Aktiengesellschaft began coverage on shares of Praxis Precision Medicines in a research note on Tuesday, February 11th. They issued a "buy" rating and a $111.00 price target for the company. Finally, Truist Financial reduced their price objective on Praxis Precision Medicines from $175.00 to $85.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $120.56.
Check Out Our Latest Research Report on PRAX
Praxis Precision Medicines Stock Down 3.2 %
Shares of PRAX stock opened at $38.96 on Tuesday. The business has a 50-day moving average price of $36.09 and a two-hundred day moving average price of $61.74. Praxis Precision Medicines has a 12-month low of $26.70 and a 12-month high of $91.83. The firm has a market cap of $793.58 million, a P/E ratio of -3.78 and a beta of 2.65.
Institutional Trading of Praxis Precision Medicines
A number of institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new stake in shares of Praxis Precision Medicines in the 4th quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Praxis Precision Medicines in the fourth quarter worth about $48,000. GAMMA Investing LLC lifted its holdings in Praxis Precision Medicines by 6,075.4% in the first quarter. GAMMA Investing LLC now owns 4,014 shares of the company's stock worth $152,000 after buying an additional 3,949 shares during the period. Graham Capital Management L.P. bought a new stake in Praxis Precision Medicines during the 4th quarter valued at approximately $209,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Praxis Precision Medicines during the 4th quarter worth approximately $215,000. 67.84% of the stock is currently owned by hedge funds and other institutional investors.
About Praxis Precision Medicines
(
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.
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