Praxis Precision Medicines (NASDAQ:PRAX) Announces Quarterly Earnings Results

Praxis Precision Medicines (NASDAQ:PRAX) posted its quarterly earnings data on Friday. The company reported ($2.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.76) by ($0.18), Zacks reports. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%.

Praxis Precision Medicines Trading Down 41.0 %

Shares of Praxis Precision Medicines stock traded down $26.66 during midday trading on Friday, reaching $38.38. The company had a trading volume of 2,405,407 shares, compared to its average volume of 427,789. The stock has a fifty day simple moving average of $76.99 and a 200 day simple moving average of $69.63. Praxis Precision Medicines has a 1-year low of $33.01 and a 1-year high of $91.83. The company has a market capitalization of $715.23 million, a price-to-earnings ratio of -3.76 and a beta of 2.65.

Analyst Ratings Changes

A number of research firms have recently issued reports on PRAX. Deutsche Bank Aktiengesellschaft started coverage on Praxis Precision Medicines in a research report on Tuesday, February 11th. They set a “buy” rating and a $111.00 price objective on the stock. Needham & Company LLC reissued a “buy” rating and issued a $150.00 target price on shares of Praxis Precision Medicines in a report on Monday, February 10th. Truist Financial raised their target price on Praxis Precision Medicines from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Oppenheimer upped their price target on Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, HC Wainwright reissued a “buy” rating and set a $120.00 price objective on shares of Praxis Precision Medicines in a report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Praxis Precision Medicines currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.20.

About Praxis Precision Medicines

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.