Praxis Precision Medicines (NASDAQ:PRAX) Sets New 52-Week Low – What’s Next?

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) reached a new 52-week low during trading on Monday . The company traded as low as $30.00 and last traded at $30.97, with a volume of 19737 shares. The stock had previously closed at $32.65.

Wall Street Analyst Weigh In

A number of research analysts have commented on PRAX shares. HC Wainwright cut their target price on shares of Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Robert W. Baird cut their price objective on Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft started coverage on Praxis Precision Medicines in a research report on Tuesday, February 11th. They set a “buy” rating and a $111.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $85.00 target price on shares of Praxis Precision Medicines in a research report on Tuesday. Finally, Wedbush lowered shares of Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $123.33.

Praxis Precision Medicines Trading Down 9.3 %

The firm has a market capitalization of $576.66 million, a price-to-earnings ratio of -2.78 and a beta of 2.66. The stock’s 50 day moving average price is $54.74 and its two-hundred day moving average price is $65.89.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings data on Friday, February 28th. The company reported ($2.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.18). Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. The business had revenue of $7.48 million for the quarter, compared to analysts’ expectations of $0.36 million. On average, sell-side analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal year.

Institutional Trading of Praxis Precision Medicines

A number of institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. purchased a new stake in shares of Praxis Precision Medicines in the fourth quarter worth about $30,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in Praxis Precision Medicines during the 4th quarter worth $48,000. Graham Capital Management L.P. bought a new stake in Praxis Precision Medicines in the fourth quarter valued at about $209,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Praxis Precision Medicines during the 4th quarter valued at approximately $215,000. Finally, Envestnet Asset Management Inc. bought a new position in shares of Praxis Precision Medicines in the 4th quarter worth about $231,000. Hedge funds and other 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.