These Analysts Increase Their Forecasts On Praxis Precision Medicines After Q2 Results
Portfolio Pulse from Avi Kapoor
Praxis Precision Medicines (NASDAQ:PRAX) reported a Q2 loss of $1.74 per share, beating the consensus estimate of $2.31 per share. However, sales of $357,000 missed the $870,000 estimate. Analysts have adjusted their price targets: Wedbush to $48, Guggenheim to $170, Oppenheimer maintained at $134, and Needham at $145. PRAX shares fell 1.7% to $51.33.
August 14, 2024 | 7:15 pm
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Praxis Precision Medicines reported a Q2 loss of $1.74 per share, beating the consensus estimate of $2.31 per share. Sales of $357,000 missed the $870,000 estimate. Analysts have adjusted their price targets: Wedbush to $48, Guggenheim to $170, Oppenheimer maintained at $134, and Needham at $145. PRAX shares fell 1.7% to $51.33.
Despite beating EPS estimates, the miss on sales and the mixed analyst ratings suggest a neutral short-term impact. The stock price fell 1.7%, indicating market uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100