Praxis Precision Medicines (NASDAQ:PRAX) Issues Quarterly Earnings Results

Praxis Precision Medicines (NASDAQ:PRAX) released its quarterly earnings results on Thursday. The company reported ($3.50) earnings per share for the quarter, missing the consensus estimate of ($3.00) by ($0.50), FiscalAI reports.

Here are the key takeaways from Praxis Precision Medicines’ conference call:

• Two NDAs submitted: Praxis submitted NDAs for ulixacaltamide in essential tremor and relutrigine for SCN2A/SCN8A DEEs; ulixacaltamide has FDA Breakthrough designation and relutrigine has Rare Pediatric Disease designation with the NDA already filed.
• Strong cash position — pro forma cash of approximately $1.5 billion after the January offering, which management says is expected to fund operations into 2028.
• Multiple near-term catalysts: POWER1 top-line readout for vormatrigine expected in Q2, elsunersen (EMBRAVE) top-line and EMBRAVE3 enrollment readouts in H1 with potential NDA next year, and EMERALD enrollment completion in H2 with a possible sNDA by 2027.
• Rising spend to support pipeline and launches — 2025 operating expenses were $326M (Q4 $97M) and management expects materially higher 2026 spend for commercial build-out, which increases near-term cash burn.
• Regulatory timing choices: Praxis requested priority review for relutrigine but not for ulixacaltamide, citing strategic/payer considerations (including IRA timing), which could affect ulixacaltamide’s approval timing and launch dynamics.

Praxis Precision Medicines Stock Down 1.6%

PRAX traded down $5.22 on Thursday, reaching $323.72. 324,046 shares of the company traded hands, compared to its average volume of 533,944. The company has a market cap of $8.15 billion, a P/E ratio of -25.09 and a beta of 2.84. Praxis Precision Medicines has a one year low of $26.70 and a one year high of $335.75. The firm has a fifty day simple moving average of $297.98 and a two-hundred day simple moving average of $175.20.

Institutional Trading of Praxis Precision Medicines

Several institutional investors and hedge funds have recently modified their holdings of PRAX. Amundi bought a new stake in shares of Praxis Precision Medicines in the 4th quarter valued at about $233,000. MML Investors Services LLC purchased a new position in Praxis Precision Medicines during the fourth quarter valued at approximately $255,000. Ieq Capital LLC bought a new position in Praxis Precision Medicines in the fourth quarter worth approximately $240,000. EntryPoint Capital LLC purchased a new stake in Praxis Precision Medicines during the fourth quarter worth $261,000. Finally, Russell Investments Group Ltd. boosted its position in Praxis Precision Medicines by 1,668.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 4,404 shares of the company’s stock valued at $233,000 after acquiring an additional 4,155 shares in the last quarter. Institutional investors own 67.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PRAX shares. UBS Group set a $750.00 price target on Praxis Precision Medicines in a research report on Monday, December 15th. Jefferies Financial Group reiterated a “buy” rating and set a $450.00 price objective (up previously from $300.00) on shares of Praxis Precision Medicines in a research report on Tuesday, December 9th. Needham & Company LLC boosted their target price on Praxis Precision Medicines from $460.00 to $510.00 and gave the stock a “buy” rating in a research report on Wednesday, February 4th. Piper Sandler reiterated an “overweight” rating and set a $1,200.00 price objective (up previously from $450.00) on shares of Praxis Precision Medicines in a research report on Wednesday, January 28th. Finally, Wedbush lifted their target price on Praxis Precision Medicines from $83.00 to $95.00 and gave the stock an “underperform” rating in a report on Monday, January 12th. Three analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $536.06.

About Praxis Precision Medicines

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.