Praxis Precision Medicines (NASDAQ:PRAX) Issues Earnings Results

Praxis Precision Medicines (NASDAQ:PRAX) released its earnings results on Monday. The company reported ($3.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.54) by $0.31, FiscalAI reports.

Praxis Precision Medicines Stock Performance

NASDAQ:PRAX opened at $277.62 on Monday. The firm has a market cap of $7.75 billion, a P/E ratio of -21.47 and a beta of 2.85. Praxis Precision Medicines has a fifty-two week low of $159.74 and a fifty-two week high of $392.70. The firm has a 50-day simple moving average of $291.73 and a two-hundred day simple moving average of $313.72.

Analyst Ratings Changes

PRAX has been the topic of a number of research reports. Royal Bank Of Canada restated an “outperform” rating and set a $462.00 price target (up from $449.00) on shares of Praxis Precision Medicines in a research report on Friday, August 7th. Robert W. Baird set a $514.00 target price on Praxis Precision Medicines in a research note on Friday, August 7th. JPMorgan Chase & Co. assumed coverage on Praxis Precision Medicines in a research report on Friday, October 16th. They set an “overweight” rating and a $700.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $1,201.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, October 15th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $575.00 price target (up from $470.00) on shares of Praxis Precision Medicines in a research report on Friday, August 21st. Three equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, Praxis Precision Medicines currently has a consensus rating of “Moderate Buy” and an average target price of $630.42.

About Praxis Precision Medicines

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on developing treatments for neurological and psychiatric disorders. The company applies neuroscience and precision-medicine research to conditions involving abnormalities in brain circuits and neuronal activity.

Its investigational programs have included small-molecule therapies for disorders such as essential tremor and epilepsy, as well as genetic-medicine approaches for certain rare neurological conditions.