Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) General Counsel Alex Nemiroff sold 8,239 shares of the firm's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $80.20, for a total value of $660,767.80. Following the sale, the general counsel now owns 10,301 shares in the company, valued at $826,140.20. This trade represents a 44.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Praxis Precision Medicines Trading Down 6.7 %
NASDAQ:PRAX traded down $5.12 during trading hours on Friday, hitting $71.76. The company's stock had a trading volume of 551,065 shares, compared to its average volume of 282,749. The stock has a market capitalization of $1.34 billion, a P/E ratio of -6.87 and a beta of 2.67. The stock has a fifty day moving average of $66.65 and a 200-day moving average of $54.91. Praxis Precision Medicines, Inc. has a 52-week low of $13.98 and a 52-week high of $86.93.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($2.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.01) by ($0.74). The firm had revenue of $0.30 million for the quarter, compared to analysts' expectations of $0.53 million. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. During the same period in the previous year, the business posted ($2.70) EPS. On average, sell-side analysts forecast that Praxis Precision Medicines, Inc. will post -10.26 earnings per share for the current year.
Analyst Ratings Changes
PRAX has been the topic of several research analyst reports. Oppenheimer lifted their price objective on Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an "outperform" rating in a report on Thursday, October 31st. HC Wainwright reiterated a "buy" rating and issued a $120.00 price objective on shares of Praxis Precision Medicines in a report on Thursday, November 7th. Wedbush lifted their price objective on Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a "neutral" rating in a report on Wednesday, August 14th. Guggenheim lifted their price objective on Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a "buy" rating in a report on Wednesday, August 14th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $151.00 price objective on shares of Praxis Precision Medicines in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $146.33.
Check Out Our Latest Analysis on Praxis Precision Medicines
Institutional Investors Weigh In On Praxis Precision Medicines
Several hedge funds have recently made changes to their positions in the business. Amalgamated Bank acquired a new stake in shares of Praxis Precision Medicines during the 2nd quarter valued at approximately $25,000. Quarry LP purchased a new stake in Praxis Precision Medicines in the 2nd quarter worth approximately $83,000. US Bancorp DE grew its stake in shares of Praxis Precision Medicines by 35.9% during the 3rd quarter. US Bancorp DE now owns 2,289 shares of the company's stock valued at $132,000 after buying an additional 605 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Praxis Precision Medicines during the 1st quarter valued at $150,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Praxis Precision Medicines during the 3rd quarter valued at $217,000. Institutional investors and hedge funds 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.
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