Praxis Precision Medicines Inc. (NASDAQ:PRAX) finished Wednesday with an addition of $0.09 to close at $1.49, an upside of 6.43 percent. An average of 3,761,240 shares of common stock have been traded in the last five days. There was a gain of $0.3600 in the past week, and it reached a new high 3 times over the past 12 months. The last 20 days have seen an average of 1,237,665 shares traded, while the 50-day average volume stands at 1,274,038.
PRAX stock has increased by 57.36% in the last month. The company shares reached their 1-month lowest point of $0.8500 on 07/27/23. With the stock rallying to its 52-week high on 01/13/23, shares of the company touched a low of $0.79 and a high of $5.25 in 52 weeks. It has reached a new high 6 times so far this year and lost -37.39% or -$0.8900 in price. In spite of this, the price is down -71.62% from the 52-week high.
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Valuation Metrics
Praxis Precision Medicines Inc. (PRAX) stock’s beta is 2.76. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 118.78, the price-to-book (PB) ratio at 0.99.
Financial Health
The quick ratio of Praxis Precision Medicines Inc. for the recent quarter was 5.30, and the current ratio was 5.30, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 0.00 and a total debt to equity ratio of 0.00 for the recent quarter.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Praxis Precision Medicines Inc.’s return on assets was -129.70%.
Earnings Surprise
In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$34.31 million in the quarter, while revenues of -$37.46 million were shrunk -75.43%. Shareholders own equity worth $128.54 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Praxis Precision Medicines Inc. (PRAX) price momentum. RSI 9-day as of the close on 23 August was 79.22%, suggesting the stock is Overbought, with historical volatility in this time frame at 82.44%.
As of today, PRAX’s price is $1.4240 +31.86% or $0.3600 from its 5-day moving average. PRAX is currently trading +60.63% higher than its 20-day SMA and +85.42% higher than its 100-day SMA. However, the stock’s current price level is +55.66% above the SMA50 and -29.05% below the SMA200.
The stochastic %K and %D were 68.22% and 69.83%, respectively, and the average true range (ATR) was 0.1735. With the 14-day stochastic at 73.26% and the average true range at 0.1513, the RSI (14) stands at 72.81%. The stock has reached 0.1578 on the 9-day MACD Oscillator while the 14-day reading was at 0.2689.
Analyst Ratings
Wedbush downgraded Praxis Precision Medicines Inc. (NASDAQ: PRAX) to a a Neutral rating in its most recent analyst report. Previously, the stock was rated as an Outperform. The consensus rating for Praxis Precision Medicines Inc. (PRAX) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell PRAX, while 1 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 0 analysts, while 4 others rate it as a “buy”.
What is PRAX’s price target for the next 12 months?
Analysts predict a range of price targets between $2.00 and $18.00, with a median target of $5.50. Taking a look at these predictions, the average price target given by analysts for Praxis Precision Medicines Inc. (PRAX) stock is $7.75.
