Praxis Precision Medicines (NASDAQ:PRAX) Issues Quarterly Earnings Results

Praxis Precision Medicines (NASDAQ:PRAX) released its earnings results on Friday. The company reported ($2.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.18), Zacks reports. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%.

Praxis Precision Medicines Stock Performance

Shares of PRAX stock traded down $25.48 during trading hours on Friday, hitting $39.56. 2,192,222 shares of the company were exchanged, compared to its average volume of 426,449. Praxis Precision Medicines has a fifty-two week low of $33.01 and a fifty-two week high of $91.83. The company has a 50 day simple moving average of $76.99 and a two-hundred day simple moving average of $69.63. The firm has a market cap of $737.23 million, a P/E ratio of -3.82 and a beta of 2.65.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PRAX. Truist Financial increased their price objective on shares of Praxis Precision Medicines from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. HC Wainwright reiterated a “buy” rating and set a $120.00 price target on shares of Praxis Precision Medicines in a research report on Thursday, December 12th. Oppenheimer boosted 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 report on Thursday, October 31st. Deutsche Bank Aktiengesellschaft began coverage on Praxis Precision Medicines in a research note on Tuesday, February 11th. They set a “buy” rating and a $111.00 target price for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $150.00 price target on shares of Praxis Precision Medicines in a research note on Monday, February 10th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.20.

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.