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

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) have earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $146.33.

PRAX has been the topic of several recent research reports. Oppenheimer increased their price target on Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and set a $120.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Wedbush boosted their target price on shares of Praxis Precision Medicines from $40.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Needham & Company LLC reissued a “buy” rating and issued a $151.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Finally, Guggenheim increased their price objective on Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th.

Praxis Precision Medicines Trading Down 4.7 %

Shares of Praxis Precision Medicines stock opened at $66.56 on Tuesday. The firm has a market cap of $1.24 billion, a PE ratio of -6.46 and a beta of 2.67. Praxis Precision Medicines has a 12 month low of $14.77 and a 12 month high of $86.93. The stock has a 50 day moving average of $71.74 and a 200 day moving average of $57.82.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its earnings results on Wednesday, November 6th. The company reported ($2.75) earnings per share 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 business had revenue of $0.30 million during the quarter, compared to the consensus estimate of $0.53 million. During the same quarter last year, the firm earned ($2.70) earnings per share. As a group, equities research analysts forecast that Praxis Precision Medicines will post -10.26 earnings per share for the current fiscal year.

Insider Activity at Praxis Precision Medicines

In related news, General Counsel Alex Nemiroff sold 8,239 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $80.20, for a total transaction of $660,767.80. Following the transaction, the general counsel now directly owns 10,301 shares of the company’s stock, valued at $826,140.20. This represents a 44.44 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Lauren Mastrocola sold 5,188 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $81.78, for a total value of $424,274.64. Following the sale, the insider now owns 5,613 shares in the company, valued at $459,031.14. The trade was a 48.03 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by corporate insiders.

Institutional Trading of Praxis Precision Medicines

Several large investors have recently bought and sold shares of PRAX. Amalgamated Bank purchased a new position in Praxis Precision Medicines in the 2nd quarter worth $25,000. Quarry LP acquired a new stake in Praxis Precision Medicines during the 2nd quarter worth about $83,000. US Bancorp DE raised its stake in shares of Praxis Precision Medicines by 35.9% during the 3rd quarter. US Bancorp DE now owns 2,289 shares of the company’s stock valued at $132,000 after buying an additional 605 shares during the last quarter. Intech Investment Management LLC acquired a new stake in Praxis Precision Medicines during the third quarter worth about $217,000. Finally, Mesirow Financial Investment Management Inc. purchased a new stake in Praxis Precision Medicines in the 3rd quarter worth approximately $231,000. Hedge funds and other 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.