Zacks: Analysts Anticipate Praxis Precision Medicines, Inc. (NASDAQ:PRAX) to Post -$1.37 Earnings Per Share

Equities analysts expect Praxis Precision Medicines, Inc. (NASDAQ:PRAXGet Rating) to post earnings per share (EPS) of ($1.37) for the current quarter, according to Zacks. Zero analysts have provided estimates for Praxis Precision Medicines’ earnings, with estimates ranging from ($1.54) to ($1.13). Praxis Precision Medicines reported earnings per share of ($0.88) in the same quarter last year, which suggests a negative year over year growth rate of 55.7%. The company is scheduled to issue its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Praxis Precision Medicines will report full year earnings of ($5.47) per share for the current year, with EPS estimates ranging from ($6.16) to ($4.41). For the next fiscal year, analysts anticipate that the firm will post earnings of ($5.03) per share, with EPS estimates ranging from ($6.33) to ($2.95). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Praxis Precision Medicines.

Praxis Precision Medicines (NASDAQ:PRAXGet Rating) last released its quarterly earnings results on Monday, May 9th. The company reported ($1.51) EPS for the quarter, missing analysts’ consensus estimates of ($1.29) by ($0.22). During the same period in the prior year, the business earned ($0.71) earnings per share.

A number of research firms have recently commented on PRAX. Wedbush dropped their price target on Praxis Precision Medicines from $40.00 to $34.00 in a research report on Tuesday, May 10th. Zacks Investment Research upgraded Praxis Precision Medicines from a “sell” rating to a “hold” rating in a report on Friday, May 13th.

Shares of NASDAQ PRAX traded up $0.01 during mid-day trading on Friday, reaching $8.39. 26,308 shares of the company’s stock were exchanged, compared to its average volume of 268,705. The firm has a market capitalization of $381.85 million, a price-to-earnings ratio of -1.78 and a beta of 2.04. The business has a fifty day simple moving average of $9.63 and a 200 day simple moving average of $13.87. Praxis Precision Medicines has a twelve month low of $7.25 and a twelve month high of $23.56.

A number of hedge funds have recently bought and sold shares of PRAX. CNA Financial Corp lifted its holdings in Praxis Precision Medicines by 8.3% during the 4th quarter. CNA Financial Corp now owns 18,231 shares of the company’s stock worth $359,000 after purchasing an additional 1,390 shares during the last quarter. Deutsche Bank AG lifted its holdings in Praxis Precision Medicines by 24.5% during the 3rd quarter. Deutsche Bank AG now owns 21,123 shares of the company’s stock worth $391,000 after purchasing an additional 4,159 shares during the last quarter. Rafferty Asset Management LLC acquired a new stake in Praxis Precision Medicines during the 4th quarter worth approximately $1,330,000. Point72 Asset Management L.P. lifted its holdings in 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 worth $21,023,000 after purchasing an additional 350,000 shares during the last quarter. Finally, California State Teachers Retirement System lifted its holdings in Praxis Precision Medicines by 5.1% during the 3rd quarter. California State Teachers Retirement System now owns 35,358 shares of the company’s stock worth $654,000 after purchasing an additional 1,726 shares during the last quarter. Hedge funds and other institutional investors own 96.25% of the company’s stock.

Praxis Precision Medicines Company Profile (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.

Featured Stories

Get a free copy of the Zacks research report on Praxis Precision Medicines (PRAX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Praxis Precision Medicines (NASDAQ:PRAX)

Receive News & Ratings for Praxis Precision Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxis Precision Medicines and related companies with MarketBeat.com's FREE daily email newsletter.