FY2023 Earnings Estimate for Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Issued By Wedbush

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) – Stock analysts at Wedbush boosted their FY2023 earnings estimates for Praxis Precision Medicines in a research report issued on Tuesday, November 7th. Wedbush analyst L. Chico now forecasts that the company will post earnings of ($1.26) per share for the year, up from their prior forecast of ($2.09). Wedbush has a “Neutral” rating and a $2.00 price objective on the stock. The consensus estimate for Praxis Precision Medicines’ current full-year earnings is ($1.76) per share. Wedbush also issued estimates for Praxis Precision Medicines’ Q4 2023 earnings at ($0.20) EPS, Q1 2024 earnings at ($0.21) EPS, Q2 2024 earnings at ($0.21) EPS, Q3 2024 earnings at ($0.22) EPS, Q4 2024 earnings at ($0.22) EPS, FY2024 earnings at ($0.86) EPS, FY2025 earnings at ($0.98) EPS, FY2026 earnings at ($1.11) EPS and FY2027 earnings at ($1.04) EPS.

Other equities research analysts also recently issued research reports about the stock. Truist Financial initiated coverage on shares of Praxis Precision Medicines in a report on Tuesday, September 19th. They issued a “buy” rating and a $10.00 price objective for the company. HC Wainwright reduced their price objective on shares of Praxis Precision Medicines from $15.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 10th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $6.33.

Praxis Precision Medicines Price Performance

PRAX stock opened at $0.98 on Friday. The company has a market capitalization of $125.98 million, a P/E ratio of -0.44 and a beta of 2.79. The company has a 50-day simple moving average of $1.32 and a 200 day simple moving average of $1.18. Praxis Precision Medicines has a fifty-two week low of $0.79 and a fifty-two week high of $5.25.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings results on Wednesday, August 9th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.66) by $0.17. The firm had revenue of $0.78 million for the quarter.

Insiders Place Their Bets

In other Praxis Precision Medicines news, Director Jill Desimone purchased 14,500 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were purchased at an average cost of $1.75 per share, for a total transaction of $25,375.00. Following the completion of the transaction, the director now owns 14,500 shares in the company, valued at $25,375. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.90% of the stock is owned by company insiders.

Institutional Trading of Praxis Precision Medicines

Institutional investors and hedge funds have recently bought and sold shares of the stock. Barclays PLC raised its holdings in Praxis Precision Medicines by 557.0% during the 4th quarter. Barclays PLC now owns 10,539 shares of the company’s stock worth $25,000 after buying an additional 8,935 shares during the period. Legal & General Group Plc raised its holdings in Praxis Precision Medicines by 61.2% during the 2nd quarter. Legal & General Group Plc now owns 12,736 shares of the company’s stock worth $31,000 after buying an additional 4,834 shares during the period. JPMorgan Chase & Co. raised its holdings in Praxis Precision Medicines by 66.1% during the 1st quarter. JPMorgan Chase & Co. now owns 38,001 shares of the company’s stock worth $31,000 after buying an additional 15,121 shares during the period. Principal Financial Group Inc. raised its holdings in Praxis Precision Medicines by 66.6% during the 2nd quarter. Principal Financial Group Inc. now owns 31,771 shares of the company’s stock worth $37,000 after buying an additional 12,700 shares during the period. Finally, Squarepoint Ops LLC raised its holdings in Praxis Precision Medicines by 81.7% during the 1st quarter. Squarepoint Ops LLC now owns 46,537 shares of the company’s stock worth $38,000 after buying an additional 20,919 shares during the period.

Praxis Precision Medicines Company Profile

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, develops 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 IIb clinical trial for the treatment of essential tremor, as well as in Phase II clinical trial to treat Parkinson's disease; PRAX-562 for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEE); and PRAX-628 to treat focal epilepsy.