Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Expected to Post Earnings of -$0.93 Per Share

Analysts predict that Praxis Precision Medicines, Inc. (NASDAQ:PRAX) will report ($0.93) earnings per share (EPS) for the current quarter, according to Zacks. Zero analysts have made estimates for Praxis Precision Medicines’ earnings. The lowest EPS estimate is ($1.04) and the highest is ($0.81). Praxis Precision Medicines reported earnings of ($12.10) per share in the same quarter last year, which suggests a positive year over year growth rate of 92.3%. The firm is expected to issue its next quarterly earnings report on Monday, November 22nd.

According to Zacks, analysts expect that Praxis Precision Medicines will report full-year earnings of ($3.56) per share for the current year, with EPS estimates ranging from ($3.88) to ($3.17). For the next fiscal year, analysts expect that the firm will report earnings of ($3.91) per share, with EPS estimates ranging from ($4.35) to ($3.07). Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Praxis Precision Medicines.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings results on Monday, August 16th. The company reported ($0.88) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.68) by ($0.20).

Several research firms have recently weighed in on PRAX. Bank of America began coverage on Praxis Precision Medicines in a research note on Thursday, August 26th. They issued a “buy” rating and a $28.00 price target for the company. Zacks Investment Research lowered Praxis Precision Medicines from a “hold” rating to a “sell” rating in a report on Saturday, July 24th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat, Praxis Precision Medicines currently has an average rating of “Buy” and an average price target of $52.25.

In related news, major shareholder Parallel Master Fund L.P. Bsof sold 40,000 shares of the stock in a transaction that occurred on Monday, August 2nd. The stock was sold at an average price of $15.78, for a total transaction of $631,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marcio Souza purchased 9,542 shares of the company’s stock in a transaction that occurred on Wednesday, August 18th. The shares were purchased at an average cost of $15.79 per share, with a total value of $150,668.18. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 411,250 shares of company stock valued at $7,622,955. Corporate insiders own 8.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Praxis Precision Medicines by 150.9% during the 2nd quarter. Vanguard Group Inc. now owns 2,547,753 shares of the company’s stock valued at $46,572,000 after acquiring an additional 1,532,184 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Praxis Precision Medicines by 474.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 786,995 shares of the company’s stock valued at $14,386,000 after buying an additional 650,000 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Praxis Precision Medicines by 59.2% during the 2nd quarter. Alliancebernstein L.P. now owns 1,419,368 shares of the company’s stock valued at $25,946,000 after buying an additional 527,815 shares during the last quarter. PFM Health Sciences LP purchased a new position in shares of Praxis Precision Medicines in the 2nd quarter valued at about $8,324,000. Finally, Laurion Capital Management LP increased its stake in shares of Praxis Precision Medicines by 887.3% in the 2nd quarter. Laurion Capital Management LP now owns 493,658 shares of the company’s stock valued at $9,024,000 after purchasing an additional 443,658 shares in the last quarter. Hedge funds and other institutional investors own 92.10% of the company’s stock.

Shares of NASDAQ PRAX traded down $0.76 during mid-day trading on Wednesday, hitting $19.53. 4,407 shares of the stock traded hands, compared to its average volume of 277,631. The stock has a fifty day moving average price of $17.67 and a 200-day moving average price of $23.71. The company has a market cap of $873.24 million and a price-to-earnings ratio of -1.35. Praxis Precision Medicines has a 52 week low of $12.71 and a 52 week high of $60.95.

Praxis Precision Medicines Company Profile

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, develops therapies for central nervous system disorders characterized by neuronal imbalance. Its lead product candidates include PRAX-114, an extrasynaptic-preferring GABAA receptor positive allosteric modulator that is in Phase IIa clinical trial for the treatment of major depressive disorder and perimenopausal depression; and PRAX-944, a selective small molecule inhibitor of T-type calcium channels, which is in Phase IIa clinical trial for the treatment of essential tremor.

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Earnings History and Estimates for Praxis Precision Medicines (NASDAQ:PRAX)

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