Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) have earned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $123.80.

Several research firms have recently weighed in on PRAX. Robert W. Baird reduced their price objective on Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Truist Financial reduced their price target on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Needham & Company LLC dropped their price objective on shares of Praxis Precision Medicines from $150.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Wedbush cut shares of Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a research report on Friday, February 28th. Finally, HC Wainwright cut their price objective on Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd.

Institutional Trading of Praxis Precision Medicines

Hedge funds and other institutional investors have recently modified their holdings of the business. GF Fund Management CO. LTD. acquired a new position in shares of Praxis Precision Medicines in the 4th quarter valued at approximately $30,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Praxis Precision Medicines during the 4th quarter valued at $48,000. Graham Capital Management L.P. acquired a new position in Praxis Precision Medicines during the 4th quarter worth $209,000. KLP Kapitalforvaltning AS bought a new stake in shares of Praxis Precision Medicines in the 4th quarter worth about $215,000. Finally, Intech Investment Management LLC acquired a new stake in shares of Praxis Precision Medicines in the 3rd quarter valued at about $217,000. 67.84% of the stock is owned by hedge funds and other institutional investors.

Praxis Precision Medicines Trading Up 4.9 %

Praxis Precision Medicines stock opened at $38.62 on Thursday. The stock has a fifty day moving average price of $65.80 and a 200 day moving average price of $68.32. Praxis Precision Medicines has a 52 week low of $30.01 and a 52 week high of $91.83. The firm has a market capitalization of $778.70 million, a P/E ratio of -3.75 and a beta of 2.76.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings results on Friday, February 28th. The company reported ($2.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.18). The company had revenue of $7.48 million for the quarter, compared to analysts’ expectations of $0.36 million. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. As a group, equities analysts predict that Praxis Precision Medicines will post -10.22 EPS for the current 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.