Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) has received an average rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $146.33.

A number of equities research analysts have weighed in on the stock. Oppenheimer boosted their target price on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st. Guggenheim boosted their price objective on shares of Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $151.00 target price on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. HC Wainwright reaffirmed a “buy” rating and set a $120.00 target price on shares of Praxis Precision Medicines in a report on Thursday, November 7th. Finally, Wedbush increased 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.

Institutional Investors Weigh In On Praxis Precision Medicines

A number of hedge funds have recently added to or reduced their stakes in PRAX. Amalgamated Bank bought a new position in shares of Praxis Precision Medicines in the 2nd quarter worth $25,000. Quarry LP acquired a new position in Praxis Precision Medicines during the second quarter worth $83,000. US Bancorp DE lifted its stake in shares of Praxis Precision Medicines by 35.9% in the third quarter. US Bancorp DE now owns 2,289 shares of the company’s stock valued at $132,000 after buying an additional 605 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Praxis Precision Medicines during the first quarter valued at about $150,000. Finally, Intech Investment Management LLC bought a new stake in shares of Praxis Precision Medicines during the third quarter worth about $217,000. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Down 5.9 %

Shares of PRAX stock opened at $76.88 on Friday. Praxis Precision Medicines has a twelve month low of $13.50 and a twelve month high of $86.93. The stock’s fifty day simple moving average is $66.29 and its 200 day simple moving average is $54.75. The firm has a market capitalization of $1.43 billion, a P/E ratio of -7.46 and a beta of 2.67.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($2.75) EPS 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 firm 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 business posted ($2.70) earnings per share. As a group, equities research analysts expect that Praxis Precision Medicines will post -10.26 EPS for the current fiscal year.

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.