Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nine ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $146.33.

Several research firms have issued reports on PRAX. Guggenheim raised their target price on Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Oppenheimer lifted their price objective on Praxis Precision Medicines from $143.00 to $163.00 and gave the company an "outperform" rating in a research note on Thursday, October 31st. Wedbush raised their price target on Praxis Precision Medicines from $40.00 to $48.00 and gave the company a "neutral" rating in a research note on Wednesday, August 14th. HC Wainwright restated a "buy" rating and set a $120.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $151.00 target price on shares of Praxis Precision Medicines in a research report on Thursday, November 7th.

Praxis Precision Medicines Stock Down 6.7 %

Shares of PRAX stock traded down $5.12 during mid-day trading on Friday, hitting $71.76. 551,065 shares of the stock were exchanged, compared to its average volume of 282,743. Praxis Precision Medicines has a 52-week low of $13.98 and a 52-week high of $86.93. The company has a market cap of $1.34 billion, a PE ratio of -6.87 and a beta of 2.67. The firm has a fifty day moving average of $66.65 and a 200 day moving average of $54.91.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its quarterly earnings data 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 business 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 business posted ($2.70) earnings per share. Equities analysts predict that Praxis Precision Medicines will post -10.26 EPS for the current year.

Institutional Trading of Praxis Precision Medicines

A number of large investors have recently added to or reduced their stakes in PRAX. Amalgamated Bank acquired a new stake in Praxis Precision Medicines in the 2nd quarter worth approximately $25,000. US Bancorp DE lifted its holdings in Praxis Precision Medicines by 35.9% during the 3rd quarter. US Bancorp DE now owns 2,289 shares of the company's stock worth $132,000 after buying an additional 605 shares in the last quarter. Quarry LP acquired a new stake in Praxis Precision Medicines during the 2nd quarter worth $83,000. SG Americas Securities LLC bought a new position in shares of Praxis Precision Medicines during the first quarter worth $150,000. Finally, Kingdon Capital Management L.L.C. increased its position in shares of Praxis Precision Medicines by 1.0% during the first quarter. Kingdon Capital Management L.L.C. now owns 350,000 shares of the company's stock worth $21,357,000 after acquiring an additional 3,335 shares in the last quarter. 67.84% of the stock is currently owned by institutional investors.

Praxis Precision Medicines Company Profile

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.