Praxis Precision Medicines, Inc. (NASDAQ:PRAX – Get Free Report)’s share price shot up 10.3% during trading on Monday . The company traded as high as $85.99 and last traded at $85.89. 60,481 shares traded hands during trading, a decline of 78% from the average session volume of 278,781 shares. The stock had previously closed at $77.88.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $151.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Oppenheimer upped their price objective on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. Guggenheim raised their target price on shares of Praxis Precision Medicines from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Wedbush upped their price target on shares of Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a “neutral” rating in a report on Wednesday, August 14th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $146.33.
Get Our Latest Analysis on Praxis Precision Medicines
Praxis Precision Medicines Trading Down 1.5 %
Praxis Precision Medicines (NASDAQ:PRAX – Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported ($2.75) earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $0.53 million. During the same quarter in the previous year, the firm earned ($2.70) EPS. On average, equities research analysts anticipate that Praxis Precision Medicines, Inc. will post -10.26 earnings per share for the current year.
Institutional Investors Weigh In On Praxis Precision Medicines
Hedge funds and other institutional investors have recently modified their holdings of the company. Amalgamated Bank bought a new position in shares of Praxis Precision Medicines in the second quarter valued at approximately $25,000. Quarry LP purchased a new stake in Praxis Precision Medicines in the 2nd quarter valued at $83,000. US Bancorp DE boosted 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 acquiring an additional 605 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Praxis Precision Medicines in the 1st quarter worth $150,000. Finally, Intech Investment Management LLC bought a new stake in shares of Praxis Precision Medicines in the 3rd quarter worth $217,000. Institutional investors own 67.84% of the company’s stock.
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.
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