Praxis Precision Medicines (NASDAQ:PRAX) Hits New 1-Year Low – Time to Sell?

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) reached a new 52-week low on Monday . The company traded as low as $30.00 and last traded at $30.97, with a volume of 19737 shares traded. The stock had previously closed at $32.65.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PRAX. Robert W. Baird decreased their target price on Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Truist Financial decreased their price objective on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Praxis Precision Medicines in a research report on Tuesday, February 11th. They issued a “buy” rating and a $111.00 price objective for the company. Wedbush lowered shares of Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a research report on Friday, February 28th. Finally, Needham & Company LLC lowered their price target on Praxis Precision Medicines from $150.00 to $85.00 and set a “buy” rating for the company in a report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Praxis Precision Medicines presently has a consensus rating of “Moderate Buy” and an average price target of $123.33.

Praxis Precision Medicines Price Performance

The company has a market capitalization of $629.03 million, a PE ratio of -3.06 and a beta of 2.66. The company’s fifty day moving average is $57.42 and its 200-day moving average is $66.60.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings results on Friday, February 28th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.18). The company had revenue of $7.48 million during the quarter, compared to analysts’ expectations of $0.36 million. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. Equities research analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.

Institutional Trading of Praxis Precision Medicines

A number of institutional investors have recently modified their holdings of PRAX. Arizona State Retirement System increased its position in Praxis Precision Medicines by 4.2% during the 4th quarter. Arizona State Retirement System now owns 3,851 shares of the company’s stock valued at $296,000 after buying an additional 156 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Praxis Precision Medicines by 2.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,135 shares of the company’s stock worth $856,000 after acquiring an additional 258 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Praxis Precision Medicines by 2.2% during the fourth quarter. California State Teachers Retirement System now owns 12,726 shares of the company’s stock worth $979,000 after acquiring an additional 275 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in shares of Praxis Precision Medicines during the fourth quarter valued at about $30,000. Finally, JPMorgan Chase & Co. boosted its stake in Praxis Precision Medicines by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,814 shares of the company’s stock worth $450,000 after purchasing an additional 448 shares in the last quarter. 67.84% of the stock is currently owned by institutional investors.

About Praxis Precision Medicines

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, engages in the development of 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 III clinical trial for the treatment of essential tremor; PRAX-562 for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEE); and PRAX-628 to treat focal epilepsy.