Praxis Precision Medicines Inc. (NASDAQ:PRAX) currently has a daily average trading volume of 1.99M but it saw 992380 shares traded on Thursday. With a market cap of 58.62M USD, stock’s current market price of $1.14 while comparing to the previous closing price of $1.14. In past 52 weeks, the stock remained buoying in the range of price level as high as $13.33 and as low as $0.98. In the recent trading on the day, stock has struck highest price mark of $1.1689 while lowest mark touched by it was $1.13.
From Robots to Self-Driving Cars: 5 AI Stocks to Consider for Your Portfolio
The artificial intelligence (AI) revolution is already here and it's about to change everything we know about everything. With the global market for AI projected to grow from $137 billion in 2022 to over $1.81 trillion by 2030, there's never been a better time to invest in this burgeoning industry. That's why we've compiled a list of the Top 5 AI Stocks to Buy for 2023. These companies are at the forefront of the AI revolution, and have the potential to deliver huge returns to investors like you.
Get our free report, "Top 5 AI Stocks to Buy for 2023".
Taking a look at 20-day trading activity of Praxis Precision Medicines Inc. (PRAX) gives us an average price of $2.1936, while its current price level is -91.45% below from 52-week high level whereas it is 16.21% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $3.2382 while that of 200 days or SMA-200 reads an average of $2.8935. A closer look into the stock’s movement over the week reveals that its volatility is standing at 7.59% during that period while stretching the period over a month that increases to 10.09%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 20.44 which implies that the stock is in oversold territory.
The average price target assigned by the average number of analysts to a stock is a way to gauge worth of any stock in next 52 weeks. And in assigning price target to a stock, some analysts adopt a bearish approach by advocating lower-than-average price target which in this case is $1.50 while some adopt bullish approach by assigning higher-than-average price target which reads the price to top $18.00. Average price target assigned by them is $10.30 which highlights an upside potential of 88.93% for the stock over that period. And to attain the median price target of $14.00 assigned by those analysts, stock has to add about 91.86% of value to its current levels.
The company’s shares got several price updates from the analyst firms in past one month and most recent of them is from the Wedbush which downgraded the stock as “Neutral” in its note to investors issued on June 06, 2022, recommending a price target of $4 for it. BofA Securities issued its recommendations for the stock as it initiated the price target for the stock is $28.
Over the week, PRAX’s stock price is moving 9.62% up while it is -69.02% when we observe its performance for the past one month. Year-to-date it is -52.10% down and over the past year, the stock is showing a downside performance of -89.19%.
The latest quarterly earnings report issued by the company was for quarter ended 12/30/2022, when its quarterly earnings per share (EPS) of -$0.87 beaten by the consensus estimate of -$0.78 for the same. For PRAX, analysts are forecasting an EPS-growth rate of 38.10% for current year and estimate for EPS growth in next year is 3.50%.
Currently, Praxis Precision Medicines Inc.’s total number of outstanding shares is 47.61M with 0.65% of that held by the insiders while 89.61% of its common stock has been owned by the institutions. Company’s return on equity (ROE) at -167.50%. Stock has a price to book (P/B) ratio of 0.71. Its return on asset (ROA) is -127.40% on average.
As per SEC documents, Eventide Healthcare & Life Scienc sought 2,466,787 of company’s common stock of worth $7.56 million as per recent closing price of the stock. Eventide Healthcare & Life Scienc is not the only institutional holder which restructured its stake in Praxis Precision Medicines Inc., as Vanguard Total Stock Market Index picked 1,238,448 shares of worth $3.8 million to bring its holdings to a total of 0.17 million shares.
Leave a Reply