Praxis Precision Medicines (NASDAQ:PRAX) Releases Earnings Results, Misses Expectations By $0.18 EPS

Praxis Precision Medicines (NASDAQ:PRAX) released its quarterly earnings results on Friday. The company reported ($2.94) EPS for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.18), Zacks reports. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%.

Praxis Precision Medicines Trading Down 39.2 %

Shares of PRAX stock traded down $25.48 on Friday, reaching $39.56. 2,192,222 shares of the company’s stock were exchanged, compared to its average volume of 426,449. The company’s fifty day simple moving average is $76.99 and its 200 day simple moving average is $69.63. Praxis Precision Medicines has a 52 week low of $33.01 and a 52 week high of $91.83. The stock has a market capitalization of $737.23 million, a PE ratio of -3.82 and a beta of 2.65.

Analyst Ratings Changes

PRAX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft assumed coverage on Praxis Precision Medicines in a report on Tuesday, February 11th. They issued a “buy” rating and a $111.00 price objective for the company. Truist Financial upped their price target on shares of Praxis Precision Medicines from $150.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Needham & Company LLC reissued a “buy” rating and issued a $150.00 price target on shares of Praxis Precision Medicines in a report on Monday, February 10th. HC Wainwright reaffirmed a “buy” rating and issued a $120.00 target price on shares of Praxis Precision Medicines in a research report on Thursday, December 12th. Finally, Oppenheimer increased their target price on Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Praxis Precision Medicines currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.20.

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.