Praxis Precision Medicines (NASDAQ:PRAX) Shares Up 6.1% - Should You Buy?
Praxis Precision Medicines (NASDAQ:PRAX) shares rose 6.1% to $31.64, despite a significant drop in trading volume. Analysts have mixed ratings, with price targets ranging from $73 to $175. The company reported a quarterly EPS of -$2.94, missing estimates, and has a market cap of $627.78 million. Institutional investors hold 67.84% of the stock. Praxis is focused on developing therapies for central nervous system disorders, with several candidates in clinical trials.
Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) shares shot up 6.1% on Thursday . The stock traded as high as $32.00 and last traded at $31.64. 64,228 shares changed hands during trading, a decline of 83% from the average session volume of 374,984 shares. The stock had previously closed at $29.83.
Wall Street Analysts Forecast Growth
PRAX has been the subject of several recent research reports. Truist Financial decreased their price target on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Needham & Company LLC reiterated a "buy" rating and issued a $85.00 price objective on shares of Praxis Precision Medicines in a research note on Tuesday, April 8th. Robert W. Baird decreased their price objective on shares of 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. Wedbush downgraded shares of Praxis Precision Medicines from a "hold" rating to a "strong sell" rating in a research note on Friday, February 28th. Finally, HC Wainwright cut their price target on Praxis Precision Medicines from $120.00 to $105.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Praxis Precision Medicines presently has a consensus rating of "Moderate Buy" and an average price target of $123.33.
Check Out Our Latest Stock Analysis on PRAX
Praxis Precision Medicines Stock Up 4.4 %
The firm has a fifty day simple moving average of $47.34 and a 200-day simple moving average of $64.42. The company has a market cap of $627.78 million, a PE ratio of -3.02 and a beta of 2.66.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last released its quarterly earnings results on Friday, February 28th. The company reported ($2.94) EPS for the quarter, missing the consensus estimate of ($2.76) by ($0.18). The firm had revenue of $7.48 million for the quarter, compared to analyst estimates of $0.36 million. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. Equities research analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal year.
Institutional Trading of Praxis Precision Medicines
Large investors have recently bought and sold shares of the business. GF Fund Management CO. LTD. acquired a new stake in shares of Praxis Precision Medicines during the fourth quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Praxis Precision Medicines during the 4th quarter worth approximately $48,000. Graham Capital Management L.P. purchased a new position in shares of Praxis Precision Medicines in the 4th quarter valued at approximately $209,000. KLP Kapitalforvaltning AS acquired a new position in shares of Praxis Precision Medicines in the fourth quarter valued at approximately $215,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Praxis Precision Medicines during the fourth quarter worth approximately $231,000. Institutional investors and hedge funds own 67.84% of the company's stock.
Praxis Precision Medicines Company Profile
(Get Free Report)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.
Read More
- Five stocks we like better than Praxis Precision Medicines
- Using the MarketBeat Stock Split Calculator
- Tariff Exemptions Set the Stage for a Taiwan Semiconductor Rally
- Should You Add These Warren Buffett Stocks to Your Portfolio?
- Mitigating Tariffs: 3 Stocks to Gain From a Weaker U.S. Dollar
- What Makes a Stock a Good Dividend Stock?
- Broadcom’s Apple Relationship: AI Opportunity Meets Tariff Risk
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Should You Invest $1,000 in Praxis Precision Medicines Right Now?
Before you consider Praxis Precision Medicines, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Praxis Precision Medicines wasn't on the list.
While Praxis Precision Medicines currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
