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

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) – Equities researchers at HC Wainwright dropped their FY2024 earnings per share estimates for shares of 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 post earnings per share of ($10.20) for the year, down from their previous 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.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data 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 return on equity of 54.86% and a negative net margin of 9,409.22%. The firm had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.53 million. During the same quarter in the previous year, the business earned ($2.70) earnings per share.

A number of other brokerages have also recently issued reports on PRAX. Oppenheimer raised their price objective on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. Guggenheim raised their price target on Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Needham & Company LLC reiterated a “buy” rating and issued a $151.00 price objective on shares of Praxis Precision Medicines in a report on Thursday, November 7th. Finally, Wedbush raised their target price on Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $146.33.

Praxis Precision Medicines Trading Down 2.2 %

Shares of NASDAQ PRAX opened at $82.97 on Monday. Praxis Precision Medicines has a 1 year low of $13.01 and a 1 year high of $86.93. The firm’s 50-day moving average is $65.32 and its 200-day moving average is $54.36. The firm has a market capitalization of $1.55 billion, a PE ratio of -8.47 and a beta of 2.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PRAX. Amalgamated Bank acquired a new stake in shares of Praxis Precision Medicines during the second quarter worth $25,000. US Bancorp DE increased its holdings in Praxis Precision Medicines by 35.9% during the 3rd quarter. US Bancorp DE now owns 2,289 shares of the company’s stock worth $132,000 after purchasing an additional 605 shares in the last quarter. Quarry LP acquired a new stake in shares of Praxis Precision Medicines in the 2nd quarter valued at about $83,000. SG Americas Securities LLC bought a new stake in shares of Praxis Precision Medicines in the first quarter valued at about $150,000. Finally, Kingdon Capital Management L.L.C. boosted its position in shares of Praxis Precision Medicines by 1.0% during the first quarter. Kingdon Capital Management L.L.C. now owns 350,000 shares of the company’s stock worth $21,357,000 after buying an additional 3,335 shares during the period. Institutional investors and hedge funds 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.