Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Receives $146.33 Consensus Target Price from Analysts

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) have been assigned an average rating of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $146.33.

A number of research analysts recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Praxis Precision Medicines in a report on Thursday, November 7th. Wedbush boosted their price target on shares of Praxis Precision Medicines from $40.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Guggenheim raised their price objective on Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Needham & Company LLC reissued a “buy” rating and issued a $151.00 target price on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Finally, Oppenheimer increased their price target on Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a report on Thursday, October 31st.

Praxis Precision Medicines Stock Down 0.4 %

PRAX stock opened at $73.36 on Friday. Praxis Precision Medicines has a twelve month low of $14.77 and a twelve month high of $86.93. The company has a market cap of $1.37 billion, a P/E ratio of -7.12 and a beta of 2.67. The business’s fifty day moving average is $68.13 and its 200-day moving average is $55.51.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results on Wednesday, November 6th. The company reported ($2.75) earnings per share for the quarter, missing the consensus estimate of ($2.01) by ($0.74). The company had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.53 million. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. During the same period in the previous year, the company posted ($2.70) EPS. Research analysts anticipate that Praxis Precision Medicines will post -10.26 earnings per share for the current fiscal year.

Insider Buying and Selling at Praxis Precision Medicines

In related news, General Counsel Alex Nemiroff sold 8,239 shares of the firm’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $80.20, for a total value of $660,767.80. Following the completion of the sale, the general counsel now directly owns 10,301 shares in the company, valued at approximately $826,140.20. This trade represents a 44.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Lauren Mastrocola sold 5,188 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $81.78, for a total value of $424,274.64. Following the transaction, the insider now directly owns 5,613 shares in the company, valued at approximately $459,031.14. This trade represents a 48.03 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Amalgamated Bank bought a new position in Praxis Precision Medicines during the second quarter worth $25,000. Quarry LP bought a new position in Praxis Precision Medicines in the 2nd quarter valued at about $83,000. US Bancorp DE raised its holdings in Praxis Precision Medicines by 35.9% in the 3rd quarter. US Bancorp DE now owns 2,289 shares of the company’s stock valued at $132,000 after acquiring an additional 605 shares during the period. SG Americas Securities LLC acquired a new stake in Praxis Precision Medicines during the first quarter worth approximately $150,000. Finally, Intech Investment Management LLC bought a new stake in shares of Praxis Precision Medicines during the third quarter worth approximately $217,000. 67.84% of the stock is owned by institutional investors and hedge funds.

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.