Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) - Investment analysts at Wedbush lowered their FY2024 earnings estimates for shares of Praxis Precision Medicines in a research note issued on Wednesday, November 6th. Wedbush analyst L. Chico now forecasts that the company will earn ($10.13) per share for the year, down from their previous estimate of ($8.66). Wedbush currently has a "Neutral" rating and a $48.00 target price on the stock. The consensus estimate for Praxis Precision Medicines' current full-year earnings is ($10.26) per share. Wedbush also issued estimates for Praxis Precision Medicines' Q4 2024 earnings at ($2.88) EPS, Q1 2025 earnings at ($2.14) EPS, Q2 2025 earnings at ($2.29) EPS, Q3 2025 earnings at ($2.42) EPS, Q4 2025 earnings at ($2.60) EPS, FY2025 earnings at ($9.46) EPS, FY2026 earnings at ($8.95) EPS, FY2027 earnings at ($8.41) EPS and FY2028 earnings at ($3.88) EPS.
PRAX has been the topic of a number of other reports. Oppenheimer raised their price target on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a "buy" rating and issued a $151.00 price target on shares of Praxis Precision Medicines in a report on Thursday. Guggenheim increased their price objective on Praxis Precision Medicines from $155.00 to $170.00 and gave the company a "buy" rating in a report on Wednesday, August 14th. Finally, HC Wainwright restated a "buy" rating and set a $120.00 target price on shares of Praxis Precision Medicines in a research note on Thursday. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $146.33.
Check Out Our Latest Research Report on Praxis Precision Medicines
Praxis Precision Medicines Stock Performance
PRAX traded up $6.95 on Monday, hitting $84.83. The company had a trading volume of 537,139 shares, compared to its average volume of 280,967. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of -7.56 and a beta of 2.67. The stock has a fifty day moving average price of $64.68 and a 200-day moving average price of $54.14. Praxis Precision Medicines has a 12-month low of $13.01 and a 12-month high of $86.81.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($2.75) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($2.01) by ($0.74). The company had revenue of $0.30 million during the quarter, compared to analysts' expectations of $0.53 million. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. During the same quarter in the prior year, the business posted ($2.70) earnings per share.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of PRAX. Amalgamated Bank purchased a new stake in shares of Praxis Precision Medicines in the 2nd quarter valued at approximately $25,000. US Bancorp DE increased its holdings in Praxis Precision Medicines by 35.9% in the third 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 last quarter. Quarry LP acquired a new stake in Praxis Precision Medicines in the second quarter valued at $83,000. SG Americas Securities LLC acquired a new stake in Praxis Precision Medicines during the 1st quarter worth $150,000. Finally, Kingdon Capital Management L.L.C. lifted its position in Praxis Precision Medicines by 1.0% in the first quarter. Kingdon Capital Management L.L.C. now owns 350,000 shares of the company's stock valued at $21,357,000 after purchasing an additional 3,335 shares during the period. 67.84% of the stock is owned by institutional investors and hedge funds.
Praxis Precision Medicines Company Profile
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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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