FY2029 Earnings Forecast for PRAX Issued By HC Wainwright

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) – Investment analysts at HC Wainwright reduced their FY2029 earnings per share estimates for shares of Praxis Precision Medicines in a report released on Tuesday, August 5th. HC Wainwright analyst D. Tsao now expects that the company will post earnings per share of $21.43 for the year, down from their prior estimate of $22.65. HC Wainwright currently has a “Buy” rating and a $115.00 price objective on the stock. The consensus estimate for Praxis Precision Medicines’ current full-year earnings is ($10.22) per share.

Several other analysts have also commented on PRAX. Chardan Capital reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Praxis Precision Medicines in a report on Tuesday, July 29th. Wedbush lifted their price objective on Praxis Precision Medicines from $26.00 to $28.00 and gave the stock an “underperform” rating in a report on Monday, May 5th. Oppenheimer lifted their target price on Praxis Precision Medicines from $97.00 to $115.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $80.00 target price on shares of Praxis Precision Medicines in a research report on Thursday, June 12th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to MarketBeat.com, Praxis Precision Medicines presently has an average rating of “Moderate Buy” and a consensus target price of $95.22.

Praxis Precision Medicines Price Performance

Shares of PRAX opened at $48.60 on Wednesday. Praxis Precision Medicines has a one year low of $26.70 and a one year high of $91.83. The firm has a market capitalization of $1.02 billion, a P/E ratio of -3.95 and a beta of 2.62. The business has a fifty day moving average of $47.79 and a 200 day moving average of $48.66.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings data on Monday, August 4th. The company reported ($3.31) EPS for the quarter, topping the consensus estimate of ($3.40) by $0.09. Praxis Precision Medicines had a negative return on equity of 60.07% and a negative net margin of 2,137.48%.

Hedge Funds Weigh In On Praxis Precision Medicines

Several large investors have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Praxis Precision Medicines by 2.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,135 shares of the company’s stock valued at $856,000 after acquiring an additional 258 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Praxis Precision Medicines by 2.2% in the fourth quarter. California State Teachers Retirement System now owns 12,726 shares of the company’s stock valued at $979,000 after acquiring an additional 275 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Praxis Precision Medicines by 88.3% in the second quarter. Nisa Investment Advisors LLC now owns 629 shares of the company’s stock valued at $26,000 after acquiring an additional 295 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in shares of Praxis Precision Medicines in the fourth quarter valued at about $30,000. Finally, MetLife Investment Management LLC lifted its position in shares of Praxis Precision Medicines by 5.4% in the fourth quarter. MetLife Investment Management LLC now owns 10,675 shares of the company’s stock valued at $822,000 after acquiring an additional 544 shares in the last quarter. 67.84% of the stock is currently owned by hedge funds and other institutional investors.

Praxis Precision Medicines Company Profile

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.