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

Praxis Precision Medicines (NASDAQ:PRAX) announced its earnings results on Friday. The company reported ($2.94) EPS for the quarter, missing the consensus estimate 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 Price Performance

NASDAQ PRAX traded down $26.66 on Friday, hitting $38.38. 2,405,407 shares of the stock were exchanged, compared to its average volume of 427,789. The company has a market capitalization of $715.23 million, a PE ratio of -3.76 and a beta of 2.65. The business’s fifty day moving average is $76.99 and its 200 day moving average is $69.63. Praxis Precision Medicines has a 52 week low of $33.01 and a 52 week high of $91.83.

Analyst Ratings Changes

PRAX has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and set a $120.00 price objective on shares of Praxis Precision Medicines in a report on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and issued a $150.00 price target on shares of Praxis Precision Medicines in a report on Monday, February 10th. Deutsche Bank Aktiengesellschaft began coverage on Praxis Precision Medicines in a research note on Tuesday, February 11th. They issued a “buy” rating and a $111.00 target price on the stock. Truist Financial lifted their price objective 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. Finally, Oppenheimer boosted their price objective on shares of 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 investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $145.20.

About Praxis Precision Medicines

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.