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.
Top 5 Artificial Intelligence Stocks to Buy for 2024
By now, you're well aware of the artificial intelligence boom. You know Big Tech has been investing billions of dollars into it.
According to Next Move Strategy Consulting, the AI market – currently valued at about $100 billion – cold grow twenty-fold by 2030 to more than $2 trillion. That means you may want to strongly consider these top AI stocks. Get our free report, "Top 5 AI Stocks to Buy in 2024."
Click here to automatically get the our FREE Report & Special Offer "5 Best AI Stocks to Invest In"
Sponsored
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.
