What is HC Wainwright’s Forecast for PRAX FY2030 Earnings?

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) – Equities researchers at HC Wainwright dropped their FY2030 earnings per share (EPS) estimates for shares of Praxis Precision Medicines in a research report issued to clients and investors on Tuesday, June 2nd. HC Wainwright analyst D. Tsao now forecasts that the company will post earnings of $125.74 per share for the year, down from their previous forecast of $129.08. HC Wainwright has a “Buy” rating and a $1,201.00 price objective on the stock. The consensus estimate for Praxis Precision Medicines’ current full-year earnings is ($14.79) per share.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($3.20) earnings per share for the quarter, beating the consensus estimate of ($3.58) by $0.38.

PRAX has been the topic of several other research reports. Truist Financial set a $616.00 price target on Praxis Precision Medicines and gave the company a “buy” rating in a research note on Tuesday. Wedbush decreased their price target on Praxis Precision Medicines from $166.00 to $162.00 and set an “underperform” rating on the stock in a research note on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $510.00 price target on shares of Praxis Precision Medicines in a research note on Tuesday, April 14th. Raymond James Financial began coverage on Praxis Precision Medicines in a research note on Friday, April 10th. They issued a “strong-buy” rating and a $815.00 price target on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Praxis Precision Medicines in a research note on Wednesday, May 27th. Four analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $572.72.

Praxis Precision Medicines Stock Performance

Shares of PRAX opened at $258.08 on Wednesday. Praxis Precision Medicines has a 52-week low of $37.19 and a 52-week high of $366.52. The business’s fifty day moving average is $327.22 and its 200-day moving average is $296.62. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of -19.30 and a beta of 2.71.

Institutional Investors Weigh In On Praxis Precision Medicines

Several hedge funds have recently modified their holdings of PRAX. NBC Securities Inc. acquired a new stake in shares of Praxis Precision Medicines during the 4th quarter valued at $38,000. Parallel Advisors LLC boosted its holdings in shares of Praxis Precision Medicines by 3,000.0% during the 1st quarter. Parallel Advisors LLC now owns 124 shares of the company’s stock valued at $40,000 after acquiring an additional 120 shares in the last quarter. Danske Bank A S acquired a new stake in shares of Praxis Precision Medicines during the 4th quarter valued at $59,000. GAMMA Investing LLC boosted its holdings in shares of Praxis Precision Medicines by 58.7% during the 4th quarter. GAMMA Investing LLC now owns 238 shares of the company’s stock valued at $70,000 after acquiring an additional 88 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Praxis Precision Medicines by 24.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,837 shares of the company’s stock valued at $77,000 after acquiring an additional 359 shares in the last quarter. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines News Summary

Here are the key news stories impacting Praxis Precision Medicines this week:

• Negative Sentiment: Praxis announced that the POWER1 study of vormatrigine did not meet its main efficacy goal, and it is pausing the POWER2 study to reevaluate the seizure program. Praxis Precision Medicines Provides Vormatrigine Program Update
• Negative Sentiment: Multiple reports highlighted the trial miss and said the stock fell after hours on the news, reinforcing investor concern about the epilepsy franchise. Praxis Precision’s epilepsy drug misses main goal of mid-to-late stage study
• Negative Sentiment: Wedbush and other analysts trimmed price targets following the update, signaling reduced confidence in the near-term outlook. Praxis Precision Medicines had its price target lowered by Wedbush
• Neutral Sentiment: HC Wainwright also cut its FY2030 EPS estimate slightly but kept a Buy rating and a high target price, suggesting longer-term optimism despite the setback. HC Wainwright reduced FY2030 earnings estimates for Praxis Precision Medicines
• Neutral Sentiment: Praxis also granted inducement stock awards to new employees, a routine hiring-related action with limited immediate impact on the share price. Praxis Precision Medicines Announces Inducement Grants

Praxis Precision Medicines Company Profile

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing precision therapies for disorders driven by neuronal excitability. The company applies translational neuroscience and genetic insights to design small molecule drugs that target specific ion channels and receptor subtypes implicated in neurological and psychiatric conditions. Its research aims to address unmet needs in rare epilepsies, essential tremor, treatment-resistant depression and other central nervous system (CNS) disorders.

The company’s pipeline includes several lead candidates at various stages of development.