Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report)'s stock price hit a new 52-week high on Wednesday . The stock traded as high as $87.12 and last traded at $86.59, with a volume of 231074 shares changing hands. The stock had previously closed at $83.49.
Analyst Ratings Changes
PRAX has been the topic of several recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $151.00 price target on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Truist Financial boosted their target price on shares of Praxis Precision Medicines from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. HC Wainwright reiterated a "buy" rating and set a $120.00 target price on shares of Praxis Precision Medicines in a research note on Thursday, December 12th. Finally, Oppenheimer raised their price target on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an "outperform" rating in a research report on Thursday, October 31st. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $149.11.
Read Our Latest Stock Report on PRAX
Praxis Precision Medicines Stock Performance
The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -8.43 and a beta of 2.65. The firm's 50-day moving average price is $74.98 and its two-hundred day moving average price is $67.52.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($2.75) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $0.30 million for the quarter, compared to analyst estimates of $0.53 million. During the same period in the previous year, the firm posted ($2.70) earnings per share. As a group, equities research analysts anticipate that Praxis Precision Medicines, Inc. will post -10.26 EPS for the current year.
Insider Buying and Selling
In other Praxis Precision Medicines news, General Counsel Alex Nemiroff sold 8,239 shares of the company's stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $80.20, for a total transaction of $660,767.80. Following the sale, the general counsel now directly owns 10,301 shares of the company's stock, valued at approximately $826,140.20. This represents a 44.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Lauren Mastrocola sold 5,188 shares of Praxis Precision Medicines stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $81.78, for a total transaction of $424,274.64. Following the completion of the transaction, the insider now owns 5,613 shares of the company's stock, valued at $459,031.14. This trade represents a 48.03 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Praxis Precision Medicines
A number of large investors have recently bought and sold shares of PRAX. Mirae Asset Global Investments Co. Ltd. acquired a new position in Praxis Precision Medicines in the fourth quarter worth $48,000. US Bancorp DE lifted its position 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. Intech Investment Management LLC bought a new stake in Praxis Precision Medicines during the 3rd quarter worth about $217,000. Mesirow Financial Investment Management Inc. acquired a new stake in Praxis Precision Medicines in the 3rd quarter valued at about $231,000. Finally, Glenmede Trust Co. NA acquired a new stake in Praxis Precision Medicines in the 3rd quarter valued at about $240,000. 67.84% of the stock is currently owned by institutional investors.
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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