Praxis Precision Medicines (NASDAQ:PRAX) Trading Down 5.6% - Should You Sell?
Praxis Precision Medicines (NASDAQ:PRAX) shares fell 5.6% to $36.31, with trading volume down 98% from average levels. Analysts have mixed views, with Needham & Company and Chardan Capital maintaining "buy" ratings and $80 price targets, while Wedbush and Robert W. Baird lowered their targets significantly. The stock has a consensus rating of "Moderate Buy" and an average target price of $116.50. The company reported a loss of $3.29 per share, missing estimates, and has a market cap of $762.72 million.
Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) shares dropped 5.6% on Friday . The company traded as low as $37.03 and last traded at $36.31. Approximately 6,030 shares changed hands during trading, a decline of 98% from the average daily volume of 385,349 shares. The stock had previously closed at $38.45.
Analysts Set New Price Targets
A number of brokerages recently commented on PRAX. Needham & Company LLC reiterated a "buy" rating and set a $80.00 price target on shares of Praxis Precision Medicines in a report on Monday, May 5th. Chardan Capital started coverage on shares of Praxis Precision Medicines in a report on Wednesday, May 7th. They issued a "buy" rating and a $80.00 price objective for the company. Wedbush lifted their target price on Praxis Precision Medicines from $26.00 to $28.00 and gave the company an "underperform" rating in a report on Monday, May 5th. Truist Financial decreased 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 report on Monday, March 3rd. Finally, Robert W. Baird lowered their target price on shares of Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Praxis Precision Medicines has a consensus rating of "Moderate Buy" and an average target price of $116.50.
Check Out Our Latest Analysis on Praxis Precision Medicines
Praxis Precision Medicines Trading Down 2.6%
The stock has a 50 day simple moving average of $35.57 and a 200 day simple moving average of $57.53. The firm has a market capitalization of $762.72 million, a PE ratio of -3.61 and a beta of 2.65.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share for the quarter, missing analysts' consensus estimates of ($3.20) by ($0.09). Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. As a group, equities analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the stock. GF Fund Management CO. LTD. purchased a new stake in Praxis Precision Medicines in the fourth quarter worth $30,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Praxis Precision Medicines in the 4th quarter worth $48,000. GAMMA Investing LLC raised its position in Praxis Precision Medicines by 6,075.4% in the 1st quarter. GAMMA Investing LLC now owns 4,014 shares of the company's stock worth $152,000 after buying an additional 3,949 shares during the last quarter. Graham Capital Management L.P. purchased a new position in shares of Praxis Precision Medicines during the fourth quarter valued at approximately $209,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Praxis Precision Medicines during the 4th quarter valued at $215,000. 67.84% of the stock is currently owned by institutional investors.
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.
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