Zacks: Brokerages Expect Praxis Precision Medicines, Inc. (NASDAQ:PRAX) to Announce -$1.29 Earnings Per Share

Wall Street brokerages expect Praxis Precision Medicines, Inc. (NASDAQ:PRAXGet Rating) to report earnings per share of ($1.29) for the current quarter, according to Zacks. Zero analysts have made estimates for Praxis Precision Medicines’ earnings. The highest EPS estimate is ($1.18) and the lowest is ($1.41). Praxis Precision Medicines posted earnings of ($0.71) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 81.7%. The business is expected to announce its next earnings report after the market closes on Monday, January 1st.

On average, analysts expect that Praxis Precision Medicines will report full year earnings of ($5.25) per share for the current fiscal year, with EPS estimates ranging from ($6.07) to ($4.75). For the next year, analysts expect that the firm will report earnings of ($5.29) per share, with EPS estimates ranging from ($6.31) to ($4.56). Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Praxis Precision Medicines.

Praxis Precision Medicines (NASDAQ:PRAXGet Rating) last posted its quarterly earnings results on Monday, February 28th. The company reported ($1.30) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.08) by ($0.22).

Separately, Zacks Investment Research cut Praxis Precision Medicines from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd.

Large investors have recently made changes to their positions in the business. State Street Corp grew its holdings in shares of Praxis Precision Medicines by 149.6% during the 4th quarter. State Street Corp now owns 1,267,815 shares of the company’s stock valued at $24,976,000 after acquiring an additional 759,911 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Praxis Precision Medicines by 41.7% during the 3rd quarter. BlackRock Inc. now owns 2,144,669 shares of the company’s stock valued at $39,656,000 after acquiring an additional 630,696 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Praxis Precision Medicines by 44.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,136,995 shares of the company’s stock valued at $21,023,000 after acquiring an additional 350,000 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Praxis Precision Medicines by 10.1% during the 3rd quarter. Janus Henderson Group PLC now owns 3,279,165 shares of the company’s stock valued at $60,626,000 after acquiring an additional 300,680 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Praxis Precision Medicines by 69.8% during the 3rd quarter. Geode Capital Management LLC now owns 584,254 shares of the company’s stock valued at $10,802,000 after acquiring an additional 240,237 shares in the last quarter. 96.25% of the stock is currently owned by institutional investors.

NASDAQ PRAX opened at $8.08 on Friday. The stock has a market capitalization of $367.69 million, a P/E ratio of -2.08 and a beta of 2.04. Praxis Precision Medicines has a 1 year low of $7.48 and a 1 year high of $28.81. The business’s fifty day moving average is $10.42 and its two-hundred day moving average is $15.03.

About Praxis Precision Medicines (Get Rating)

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, develops therapies for central nervous system disorders characterized by neuronal imbalance. Its lead product candidates include PRAX-114, an extrasynaptic-preferring GABAA receptor positive allosteric modulator that is in Phase IIa clinical trial for the treatment of major depressive disorder and perimenopausal depression; and PRAX-944, a selective small molecule inhibitor of T-type calcium channels, which is in Phase IIa clinical trial for the treatment of essential tremor.

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