Praxis Precision Medicines (NASDAQ:PRAX) Releases Quarterly Earnings Results, Beats Estimates By $0.31 EPS

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

Praxis Precision Medicines Stock Performance

Shares of NASDAQ PRAX opened at $277.62 on Monday. Praxis Precision Medicines has a 12-month low of $159.74 and a 12-month high of $392.70. The firm’s 50-day moving average price is $291.73 and its 200-day moving average price is $313.72. The stock has a market capitalization of $7.75 billion, a price-to-earnings ratio of -21.47 and a beta of 2.85.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PRAX. The Goldman Sachs Group reaffirmed a “buy” rating and set a $575.00 price target (up from $470.00) on shares of Praxis Precision Medicines in a report on Friday, August 21st. Raymond James Financial reaffirmed a “strong-buy” rating and issued a $945.00 target price on shares of Praxis Precision Medicines in a report on Monday, August 17th. Robert W. Baird set a $514.00 target price on shares of Praxis Precision Medicines in a report on Friday, August 7th. JPMorgan Chase & Co. assumed coverage on Praxis Precision Medicines in a report on Friday, October 16th. They issued an “overweight” rating and a $700.00 target price on the stock. Finally, Wells Fargo & Company reissued a “positive” rating and set a $362.00 price target (up from $323.00) on shares of Praxis Precision Medicines in a research note on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $630.42.

Praxis Precision Medicines Company Profile

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.