Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Receives $123.80 Consensus PT from Analysts

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) have been given a consensus recommendation of “Moderate Buy” by the ten research firms that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating and nine have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $123.80.

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Praxis Precision Medicines in a research note on Tuesday, February 11th. They issued a “buy” rating and a $111.00 price objective for the company. Robert W. Baird dropped their target price on shares of Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. HC Wainwright dropped their target price on shares of Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Truist Financial dropped their target price on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, March 3rd. Finally, Needham & Company LLC dropped their target price on shares of Praxis Precision Medicines from $150.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, March 3rd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in shares of Praxis Precision Medicines during the 4th quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Praxis Precision Medicines during the 4th quarter worth about $48,000. Graham Capital Management L.P. bought a new position in shares of Praxis Precision Medicines during the 4th quarter worth about $209,000. KLP Kapitalforvaltning AS bought a new position in shares of Praxis Precision Medicines during the 4th quarter worth about $215,000. Finally, Intech Investment Management LLC bought a new position in shares of Praxis Precision Medicines during the 3rd quarter worth about $217,000. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Trading Down 1.5 %

PRAX stock opened at $37.12 on Thursday. Praxis Precision Medicines has a 1 year low of $30.01 and a 1 year high of $91.83. The company has a fifty day simple moving average of $64.56 and a 200 day simple moving average of $68.08. The firm has a market cap of $748.45 million, a PE ratio of -3.60 and a beta of 2.76.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings data on Friday, February 28th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing the consensus estimate of ($2.76) by ($0.18). 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 $7.48 million during the quarter, compared to analyst estimates of $0.36 million. As a group, analysts forecast that Praxis Precision Medicines will post -10.22 EPS for the current fiscal year.

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.