Praxis Precision Medicines (NASDAQ:PRAX) Rating Reiterated by HC Wainwright

HC Wainwright reiterated their buy rating on shares of Praxis Precision Medicines (NASDAQ:PRAX) in a report issued on Tuesday morning, Benzinga reports. HC Wainwright currently has a $105.00 price target on the stock.

Other equities analysts have also issued research reports about the stock. Wedbush boosted their target price on shares of Praxis Precision Medicines from $16.00 to $29.00 and gave the stock a neutral rating in a research report on Friday, January 12th. Truist Financial reaffirmed a buy rating and set a $150.00 target price on shares of Praxis Precision Medicines in a research report on Monday, December 4th.

Praxis Precision Medicines Stock Up 3.1 %

NASDAQ:PRAX opened at $61.02 on Tuesday. Praxis Precision Medicines has a 12 month low of $11.85 and a 12 month high of $67.21. The firm has a market cap of $807.90 million, a price-to-earnings ratio of -2.58 and a beta of 2.85. The company’s 50 day moving average is $47.78 and its 200-day moving average is $30.45.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($2.97) EPS for the quarter, beating analysts’ consensus estimates of ($3.05) by $0.08. Praxis Precision Medicines had a negative net margin of 5,037.88% and a negative return on equity of 151.02%. The company had revenue of $0.52 million for the quarter, compared to analyst estimates of $0.30 million. Research analysts predict that Praxis Precision Medicines will post -8.78 EPS for the current fiscal year.

Institutional Investors Weigh In On Praxis Precision Medicines

A number of institutional investors have recently bought and sold shares of PRAX. Swiss National Bank boosted its stake in Praxis Precision Medicines by 7.9% during the first quarter. Swiss National Bank now owns 53,100 shares of the company’s stock worth $542,000 after buying an additional 3,900 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Praxis Precision Medicines by 17.5% during the first quarter. JPMorgan Chase & Co. now owns 33,795 shares of the company’s stock worth $345,000 after buying an additional 5,022 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Praxis Precision Medicines by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 109,522 shares of the company’s stock worth $1,118,000 after buying an additional 1,940 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Praxis Precision Medicines by 48.4% during the first quarter. MetLife Investment Management LLC now owns 19,433 shares of the company’s stock worth $198,000 after buying an additional 6,340 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Praxis Precision Medicines by 9.1% during the first quarter. Rhumbline Advisers now owns 41,376 shares of the company’s stock worth $422,000 after buying an additional 3,467 shares in the last quarter. 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.