Praxis Precision Medicines (NASDAQ:PRAX) Posts Earnings Results, Misses Expectations By $0.18 EPS

Praxis Precision Medicines (NASDAQ:PRAX) released its quarterly earnings results on Friday. The company reported ($2.94) EPS for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.18), Zacks reports. Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. The firm had revenue of $7.48 million for the quarter, compared to analysts’ expectations of $0.36 million.

Praxis Precision Medicines Stock Performance

Shares of Praxis Precision Medicines stock traded down $26.43 on Friday, hitting $38.60. The company’s stock had a trading volume of 3,199,803 shares, compared to its average volume of 452,800. Praxis Precision Medicines has a 1 year low of $33.01 and a 1 year high of $91.83. The company has a market capitalization of $719.43 million, a price-to-earnings ratio of -3.75 and a beta of 2.65. The firm has a fifty day moving average price of $76.23 and a 200-day moving average price of $69.54.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $150.00 target price on shares of Praxis Precision Medicines in a research note on Monday, February 10th. Truist Financial raised their target price on shares of Praxis Precision Medicines from $150.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Deutsche Bank Aktiengesellschaft started coverage on Praxis Precision Medicines in a report on Tuesday, February 11th. They set a “buy” rating and a $111.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and set a $120.00 price target on shares of Praxis Precision Medicines in a research report on Thursday, December 12th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $145.20.

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.