Praxis Precision Medicines (NASDAQ:PRAX) Issues Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Praxis Precision Medicines (NASDAQ:PRAX) released its quarterly earnings results on Friday. The company reported ($3.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.20) by ($0.09), Zacks reports. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%.

Praxis Precision Medicines Stock Up 5.7 %

Shares of Praxis Precision Medicines stock opened at $40.24 on Friday. The company has a 50 day moving average price of $36.68 and a 200 day moving average price of $62.15. The firm has a market capitalization of $811.36 million, a P/E ratio of -3.91 and a beta of 2.66. Praxis Precision Medicines has a 52 week low of $26.70 and a 52 week high of $91.83.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PRAX. HC Wainwright reissued a “buy” rating and issued a $105.00 price target on shares of Praxis Precision Medicines in a research report on Thursday. Needham & Company LLC restated a “buy” rating and set a $85.00 price objective on shares of Praxis Precision Medicines in a report on Tuesday, April 8th. Truist Financial decreased their price target on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Wedbush lowered shares of Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a research note on Friday, February 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of 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. 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.33.

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.