Praxis Precision Medicines (NASDAQ:PRAX) Announces Earnings Results

Praxis Precision Medicines (NASDAQ:PRAX) issued its quarterly earnings results on Monday. The company reported ($3.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.54) by $0.31, FiscalAI reports.

Praxis Precision Medicines Stock Performance

PRAX opened at $277.62 on Monday. Praxis Precision Medicines has a 12-month low of $159.74 and a 12-month high of $392.70. The firm has a 50 day moving average of $291.73 and a two-hundred day moving average of $313.72. The firm has a market capitalization of $7.75 billion, a PE ratio of -21.47 and a beta of 2.85.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on PRAX shares. HC Wainwright reissued a “buy” rating and set a $1,201.00 price objective on shares of Praxis Precision Medicines in a report on Thursday, October 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Praxis Precision Medicines in a research report on Monday, August 24th. Royal Bank Of Canada restated an “outperform” rating and issued a $462.00 target price (up from $449.00) on shares of Praxis Precision Medicines in a research note on Friday, August 7th. Wall Street Zen cut Praxis Precision Medicines from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of Praxis Precision Medicines in a research report on Monday, July 13th. Three analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $630.42.

About Praxis Precision Medicines

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on developing treatments for neurological and psychiatric disorders. The company applies neuroscience and precision-medicine research to conditions involving abnormalities in brain circuits and neuronal activity.

Its investigational programs have included small-molecule therapies for disorders such as essential tremor and epilepsy, as well as genetic-medicine approaches for certain rare neurological conditions.