Praxis Precision Medicines (NASDAQ:PRAX) Now Covered by Analysts at Robert W. Baird

Robert W. Baird started coverage on shares of Praxis Precision Medicines (NASDAQ:PRAX) in a research note published on Wednesday, MarketBeat reports. The brokerage issued an outperform rating and a $117.00 price objective on the stock.

Other analysts have also issued research reports about the company. Jefferies Financial Group raised their target price on Praxis Precision Medicines from $75.00 to $128.00 and gave the company a buy rating in a report on Tuesday, March 26th. HC Wainwright restated a buy rating and issued a $105.00 price target on shares of Praxis Precision Medicines in a research report on Friday, April 26th. Finally, Wedbush increased their target price on shares of Praxis Precision Medicines from $16.00 to $29.00 and gave the company a neutral rating in a research note on Friday, January 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Praxis Precision Medicines presently has an average rating of Moderate Buy and an average target price of $105.80.

Praxis Precision Medicines Price Performance

NASDAQ PRAX opened at $54.54 on Wednesday. Praxis Precision Medicines has a fifty-two week low of $12.45 and a fifty-two week high of $67.21. The stock’s 50-day moving average is $53.40 and its two-hundred day moving average is $35.73. The firm has a market cap of $933.18 million, a P/E ratio of -2.31 and a beta of 2.87.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($2.97) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.05) by $0.08. The business had revenue of $0.52 million for the quarter, compared to the consensus estimate of $0.30 million. Praxis Precision Medicines had a negative return on equity of 151.02% and a negative net margin of 5,037.88%. On average, equities analysts expect that Praxis Precision Medicines will post -8.64 EPS for the current year.

Institutional Trading of Praxis Precision Medicines

Institutional investors have recently made changes to their positions in the business. Simplex Trading LLC bought a new position in Praxis Precision Medicines during the fourth quarter worth about $31,000. Chase Investment Counsel Corp bought a new position in shares of Praxis Precision Medicines during the 1st quarter worth approximately $229,000. Windmill Hill Asset Management Ltd acquired a new stake in Praxis Precision Medicines in the 1st quarter valued at $321,000. BNP Paribas Financial Markets bought a new stake in Praxis Precision Medicines in the first quarter valued at $412,000. Finally, DLD Asset Management LP acquired a new position in Praxis Precision Medicines during the fourth quarter worth $223,000. 67.84% of the stock is currently owned by institutional investors and hedge funds.

About Praxis Precision Medicines

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, engages in the development of 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 III clinical trial for the treatment of essential tremor; PRAX-562 for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEE); and PRAX-628 to treat focal epilepsy.