Praxis Precision Medicines, Inc. (NASDAQ:PRAX – Get Free Report) was the target of a significant decrease in short interest in February. As of February 28th, there was short interest totalling 1,820,000 shares, a decrease of 31.8% from the February 13th total of 2,670,000 shares. Currently, 9.7% of the company’s stock are short sold. Based on an average trading volume of 459,200 shares, the days-to-cover ratio is currently 4.0 days.
Praxis Precision Medicines Stock Up 2.7 %
Praxis Precision Medicines stock traded up $0.99 during midday trading on Friday, hitting $38.28. 240,733 shares of the stock were exchanged, compared to its average volume of 493,933. Praxis Precision Medicines has a 52-week low of $30.01 and a 52-week high of $91.83. The business’s 50-day moving average price is $68.11 and its 200-day moving average price is $68.61. The stock has a market capitalization of $771.84 million, a price-to-earnings ratio of -3.72 and a beta of 2.76.
Praxis Precision Medicines (NASDAQ:PRAX – Get Free Report) last announced its earnings results on Friday, February 28th. The company reported ($2.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.18). The business had revenue of $7.48 million during the quarter, compared to analysts’ expectations of $0.36 million. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. On average, sell-side analysts predict that Praxis Precision Medicines will post -10.22 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Praxis Precision Medicines
Wall Street Analysts Forecast Growth
PRAX has been the topic of a number of research reports. HC Wainwright dropped their price target on Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on Praxis Precision Medicines in a research report on Tuesday, February 11th. They set a “buy” rating and a $111.00 target price on the stock. Wedbush downgraded shares of Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a research report on Friday, February 28th. Truist Financial decreased their price target on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Needham & Company LLC reduced their price objective on shares of Praxis Precision Medicines from $150.00 to $85.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.80.
Get Our Latest Research Report on Praxis Precision Medicines
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.
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