Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) - Equities researchers at HC Wainwright reduced their FY2024 earnings per share estimates for Praxis Precision Medicines in a note issued to investors on Thursday, November 7th. HC Wainwright analyst D. Tsao now expects that the company will earn ($10.20) per share for the year, down from their previous forecast of ($8.19). HC Wainwright has a "Buy" rating and a $120.00 price objective on the stock. The consensus estimate for Praxis Precision Medicines' current full-year earnings is ($10.26) per share. HC Wainwright also issued estimates for Praxis Precision Medicines' Q4 2024 earnings at ($2.87) EPS, Q1 2025 earnings at ($2.96) EPS, Q2 2025 earnings at ($3.48) EPS, Q3 2025 earnings at ($4.09) EPS, Q4 2025 earnings at ($4.34) EPS, FY2025 earnings at ($14.86) EPS, FY2026 earnings at ($19.33) EPS, FY2027 earnings at ($15.79) EPS and FY2028 earnings at ($6.99) EPS.
Several other equities analysts also recently commented on PRAX. Guggenheim upped their target price on Praxis Precision Medicines from $155.00 to $170.00 and gave the company a "buy" rating in a research report on Wednesday, August 14th. Oppenheimer increased their price target on Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. Wedbush increased their price target on Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 14th. Finally, Needham & Company LLC reissued a "buy" rating and set a $151.00 price target on shares of Praxis Precision Medicines in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $146.33.
Get Our Latest Analysis on PRAX
Praxis Precision Medicines Stock Up 8.9 %
Shares of Praxis Precision Medicines stock traded up $6.95 on Monday, hitting $84.83. The stock had a trading volume of 546,128 shares, compared to its average volume of 281,008. Praxis Precision Medicines has a twelve month low of $13.01 and a twelve month high of $86.81. The business's 50 day moving average is $64.68 and its two-hundred day moving average is $54.14. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of -7.56 and a beta of 2.67.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported ($2.75) EPS for the quarter, missing the consensus estimate of ($2.01) by ($0.74). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. The firm had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.53 million. During the same period in the previous year, the company posted ($2.70) EPS.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the company. Amalgamated Bank bought a new position in shares of Praxis Precision Medicines in the 2nd quarter valued at $25,000. Quarry LP bought a new position in shares of Praxis Precision Medicines in the 2nd quarter valued at $83,000. US Bancorp DE lifted its stake in shares of Praxis Precision Medicines by 35.9% in the 3rd quarter. US Bancorp DE now owns 2,289 shares of the company's stock valued at $132,000 after acquiring an additional 605 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Praxis Precision Medicines in the 1st quarter valued at $150,000. Finally, Intech Investment Management LLC bought a new position in shares of Praxis Precision Medicines in the 3rd quarter valued at $217,000. 67.84% of the stock is currently owned by institutional investors.
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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