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

Praxis Precision Medicines (NASDAQ:PRAX) announced its quarterly earnings data on Friday. The company reported ($3.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.20) by ($0.09), 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 Trading Up 5.7 %

PRAX stock opened at $40.24 on Friday. The business’s 50 day moving average is $36.68 and its 200-day moving average is $62.07. Praxis Precision Medicines has a 1-year low of $26.70 and a 1-year high of $91.83. The firm has a market cap of $811.36 million, a P/E ratio of -3.91 and a beta of 2.66.

Analyst Ratings Changes

PRAX has been the subject of several recent research reports. Needham & Company LLC restated a “buy” rating and set a $85.00 target price on shares of Praxis Precision Medicines in a report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft began coverage on Praxis Precision Medicines in a report on Tuesday, February 11th. They set a “buy” rating and a $111.00 price objective for the company. Truist Financial reduced their price target on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Robert W. Baird decreased their target price on Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Finally, Wedbush lowered shares of Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the company. According to MarketBeat, Praxis Precision Medicines has a consensus rating of “Moderate Buy” and a consensus price target of $123.33.

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.