What is HC Wainwright's Estimate for PRAX FY2029 Earnings?

Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) - Equities researchers at HC Wainwright lowered their FY2029 earnings per share estimates for shares of Praxis Precision Medicines in a research report issued on Tuesday, August 5th. HC Wainwright analyst D. Tsao now anticipates that the company will post earnings per share of $21.43 for the year, down from their prior estimate of $22.65. HC Wainwright currently has a "Buy" rating and a $115.00 price objective on the stock. The consensus estimate for Praxis Precision Medicines' current full-year earnings is ($10.22) per share.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported ($3.31) EPS for the quarter, topping analysts' consensus estimates of ($3.40) by $0.09. Praxis Precision Medicines had a negative return on equity of 59.42% and a negative net margin of 2,137.48%.

Other analysts also recently issued research reports about the company. Needham & Company LLC reiterated a "buy" rating and issued a $80.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, June 12th. Wedbush raised their target price on Praxis Precision Medicines from $26.00 to $28.00 and gave the stock an "underperform" rating in a research report on Monday, May 5th. Chardan Capital restated a "buy" rating and set a $80.00 target price on shares of Praxis Precision Medicines in a research report on Tuesday, July 29th. Finally, Oppenheimer raised their target price on Praxis Precision Medicines from $97.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $95.22.

Check Out Our Latest Stock Report on Praxis Precision Medicines

Praxis Precision Medicines Trading Down 6.5%

Shares of PRAX stock opened at $47.79 on Wednesday. The stock has a 50 day moving average of $47.56 and a two-hundred day moving average of $48.66. Praxis Precision Medicines has a 12 month low of $26.70 and a 12 month high of $91.83. The company has a market capitalization of $973.48 million, a P/E ratio of -3.89 and a beta of 2.62.

Hedge Funds Weigh In On Praxis Precision Medicines

Several institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Praxis Precision Medicines by 2.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,135 shares of the company's stock valued at $856,000 after purchasing an additional 258 shares during the last quarter. California State Teachers Retirement System raised its position in Praxis Precision Medicines by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 12,726 shares of the company's stock valued at $979,000 after purchasing an additional 275 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Praxis Precision Medicines by 88.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 629 shares of the company's stock valued at $26,000 after purchasing an additional 295 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Praxis Precision Medicines in the 4th quarter valued at $30,000. Finally, MetLife Investment Management LLC raised its position in Praxis Precision Medicines by 5.4% in the 4th quarter. MetLife Investment Management LLC now owns 10,675 shares of the company's stock valued at $822,000 after purchasing an additional 544 shares during the last quarter. Institutional investors 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.

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