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

Equities analysts expect Praxis Precision Medicines, Inc. (NASDAQ:PRAX – Get 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:PRAX – Get 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.

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