Should Praxis Precision Medicines Inc. (NASDAQ: PRAX) Revive After A -906.84% Drop From Highs? – Marketing Sentinel
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Should Praxis Precision Medicines Inc. (NASDAQ: PRAX) Revive After A -906.84% Drop From Highs?

During the last session, Praxis Precision Medicines Inc. (NASDAQ:PRAX)’s traded shares were 1.75 million. At the end of the trading day, the stock’s price was $2.34, reflecting an intraday gain of 10.38% or $0.22. The 52-week high for the PRAX share is $23.56, that puts it down -906.84 from that peak though still a striking 30.34% gain since the share price plummeted to a 52-week low of $1.63. The company’s market capitalization is $99.33M, and the average trade volume was 1.46 million shares over the past three months.

Praxis Precision Medicines Inc. (PRAX) received a consensus recommendation of an Overweight from analysts. That translates to a mean rating of 1.50. PRAX has a Sell rating from 0 analyst(s) out of 6 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 4 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$1.39.

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Praxis Precision Medicines Inc. (NASDAQ:PRAX) trade information

Praxis Precision Medicines Inc. (PRAX) registered a 10.38% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 10.38% in intraday trading to $2.34 this Thursday, 06/23/22, hitting a weekly high. The stock’s 5-day price performance is 21.24%, and it has moved by -76.17% in 30 days. Based on these gigs, the overall price performance for the year is -87.89%.

The consensus price target of analysts on Wall Street is $11.70, which implies an increase of 80.0% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $4.00 and $22.52 respectively. As a result, PRAX is trading at a discount of -862.39% off the target high and -70.94% off the low.

Praxis Precision Medicines Inc. (PRAX) estimates and forecasts

Statistics show that Praxis Precision Medicines Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Praxis Precision Medicines Inc. (PRAX) shares have gone down -87.69% during the last six months, with a year-to-date growth rate less than the industry average at -8.38% against 1.00. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -58.00% this quarter and then drop -31.00% in the quarter after that.

While earnings are projected to return -115.90% in 2022, the next five years will return -14.60% per annum.

PRAX Dividends

Praxis Precision Medicines Inc. is due to release its next quarterly earnings between March 15 and March 21. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Praxis Precision Medicines Inc. (NASDAQ:PRAX)’s Major holders

Praxis Precision Medicines Inc. insiders own 0.50% of total outstanding shares while institutional holders control 98.55%, with the float percentage being 99.04%. Blackstone Inc is the largest shareholder of the company, while 156 institutions own stock in it. As of Dec 30, 2021, the company held over 4.89 million shares (or 10.75% of all shares), a total value of $96.41 million in shares.

The next largest institutional holding, with 4.58 million shares, is of FMR, LLC’s that is approximately 10.06% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $90.15 million.

Also, the Mutual Funds coming in first place with the largest holdings of Praxis Precision Medicines Inc. (PRAX) shares are Mutual Fund Ser Tr-Eventide Healthcare & Life Sciences Fund and Mutual Fund Ser Tr-Eventide Gilead Fund. Data provided on Dec 30, 2021 indicates that Mutual Fund Ser Tr-Eventide Healthcare & Life Sciences Fund owns about 2.24 million shares. This amounts to just over 4.91 percent of the company’s overall shares, with a $44.06 million market value. The same data shows that the other fund manager holds slightly less at 1.57 million, or about 3.46% of the stock, which is worth about $31.01 million.

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