What is HC Wainwright’s Estimate for PRAX FY2024 Earnings?

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) – Stock analysts at HC Wainwright decreased their FY2024 earnings estimates for Praxis Precision Medicines in a research report issued to clients and investors on Thursday, November 7th. HC Wainwright analyst D. Tsao now anticipates that the company will earn ($10.20) per share for the year, down from their prior estimate of ($8.19). HC Wainwright currently has a “Buy” rating and a $120.00 target price 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 research analysts have also issued reports on PRAX. Guggenheim boosted their price target on shares of Praxis Precision Medicines from $155.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. Needham & Company LLC reissued a “buy” rating and issued a $151.00 target price on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Wedbush raised their price target on shares of Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Finally, Oppenheimer lifted their price objective on Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Praxis Precision Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $146.33.

Praxis Precision Medicines Trading Down 2.2 %

Shares of NASDAQ PRAX opened at $82.97 on Monday. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of -8.47 and a beta of 2.67. Praxis Precision Medicines has a one year low of $13.01 and a one year high of $86.93. The business has a fifty day simple moving average of $65.32 and a 200 day simple moving average of $54.36.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly 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 last year, the company earned ($2.70) EPS.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of PRAX. BNP Paribas Financial Markets acquired a new stake in Praxis Precision Medicines during the 1st quarter valued at $412,000. SG Americas Securities LLC acquired a new stake in shares of Praxis Precision Medicines in the first quarter valued at $150,000. Vanguard Group Inc. raised its holdings in shares of Praxis Precision Medicines by 100.6% in the first quarter. Vanguard Group Inc. now owns 744,069 shares of the company’s stock valued at $45,403,000 after buying an additional 373,131 shares during the last quarter. Boulder Hill Capital Management LP acquired a new position in Praxis Precision Medicines during the 1st quarter worth about $256,000. Finally, StemPoint Capital LP bought a new stake in Praxis Precision Medicines during the 1st quarter worth about $1,641,000. Institutional investors own 67.84% of the company’s stock.

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.