The price of Praxis Precision Medicines Inc. (NASDAQ:PRAX) shares last traded on Wall Street rose 2.31% to $1.33.
Based on available information, 5 analysts follow Praxis Precision Medicines Inc. (NASDAQ:PRAX). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $18.00 and a low of $2.00, we find $9.50. Given the previous closing price of $1.30, this indicates a potential upside of 630.77 percent. PRAX stock price is now 24.73% away from the 50-day moving average and -32.13% away from the 200-day moving average. The market capitalization of the company currently stands at $158.60M.
Among analysts, 1 rate the stock a hold while 4 rate it a buy. Brokers who have rated the stock have averaged $9.75 as their price target over the next twelve months.
With the price target maintained at $4, Wedbush recently Downgraded its rating from Outperform to Neutral for Praxis Precision Medicines Inc. (NASDAQ: PRAX).
In other news, Souza Marcio, Chief Executive Officer bought 10,000 shares of the company’s stock on Jun 27. The stock was bought for $10,587 at an average price of $1.06. Upon completion of the transaction, the Chief Executive Officer now directly owns 45,002 shares in the company, valued at $59852.66. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 24, Director MITCHELL DEAN J bought 50,000 shares of the business’s stock. A total of $41,815 was incurred on buying the stock at an average price of $0.84. This leaves the insider owning 75,000 shares of the company worth $99750.0. Insiders disposed of 9,100 shares of company stock worth roughly $12103.0 over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PRAX stock. A new stake in Praxis Precision Medicines Inc. shares was purchased by VELAN CAPITAL INVESTMENT MANAGEMENT LP during the first quarter worth $6,896,000. AVIDITY PARTNERS MANAGEMENT LP invested $5,695,000 in shares of PRAX during the first quarter. In the first quarter, GREAT POINT PARTNERS I LP acquired a new stake in Praxis Precision Medicines Inc. valued at approximately $2,703,000. MARSHALL WACE, LLP acquired a new stake in PRAX for approximately $377,000. J. GOLDMAN & CO LP purchased a new stake in PRAX valued at around $180,000 in the second quarter. In total, there are 151 active investors with 90.30% ownership of the company’s stock.
A candlestick chart of Praxis Precision Medicines Inc. (NASDAQ: PRAX) showed a price of $1.3100 on Thursday morning. During the past 12 months, Praxis Precision Medicines Inc. has had a low of $0.79 and a high of $5.25. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.20, and a quick ratio of 3.20. The fifty day moving average price for PRAX is $1.0705 and a two-hundred day moving average price translates $1.9539 for the stock.
The latest earnings results from Praxis Precision Medicines Inc. (NASDAQ: PRAX) was released for Mar, 2023. According to the Biotechnology Company, earnings per share came in at -$0.71, beating analysts’ expectations of -$0.79 by 0.08. This compares to -$1.51 EPS in the same period last year.
Praxis Precision Medicines Inc.(PRAX) Company Profile
Praxis Precision Medicines, Inc., a clinical-stage biopharmaceutical company, develops 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 IIb clinical trial for the treatment of essential tremor, as well as in Phase II clinical trial to treat Parkinson’s disease; PRAX-562 for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEE); and PRAX-628 to treat focal epilepsy. The company also develops PRAX-222 for the treatment of pediatric patients with early-onset SCN2A-DEE; PRAX-020 to treat KCNT1 related epilepsies; PRAX-080 for the treatment of PCDH19; and PRAX-090 and PRAX-100 for SYNGAP1 and SCN2A-LoF. It has a license agreement with RogCon Inc.; a research collaboration and license agreement with Ionis Pharmaceuticals, Inc.; a strategic collaboration and license agreement with UCB Biopharma SRL; and collaboration with The Florey Institute to develop three novel ASOs. Praxis Precision Medicines, Inc. was incorporated in 2015 and is based in Boston, Massachusetts.
