Praxis Precision Medicines Inc. [PRAX] Stock trading around $27.98 per share: What’s Next?

Praxis Precision Medicines Inc. [NASDAQ: PRAX] price plunged by -21.78 percent to reach at -$7.79. The company report on November 10, 2020 that Praxis Precision Medicines Provides Regulatory Update On PRAX-114 Program.

Praxis Precision Medicines, Inc. (NASDAQ: PRAX), a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders characterized by neuronal imbalance, today announced that it has received a response from the U.S. Food and Drug Administration (FDA) on the Investigational New Drug (IND) submission for PRAX-114 for the treatment of major depressive disorder (MDD).

In October 2020, Praxis submitted the IND for PRAX-114 in connection with the initiation of its randomized, placebo-controlled Phase 2/3 clinical trial for PRAX-114 in MDD, as previously discussed with the FDA at a pre-IND meeting earlier this year. At the end of the 30-day IND review period, the FDA notified the Company that the IND has been placed on full clinical hold. The FDA has not provided any reason for the clinical hold. The Company has subsequently been in communication with the FDA, which advised that comments have not been finalized. The Company expects to receive final comments from the FDA within 30 days and intends to work closely with the agency to understand and resolve key issues.

A sum of 1248561 shares traded at recent session while its average daily volume was at 449.71K shares. Praxis Precision Medicines Inc. shares reached a high of $30.98 and dropped to a low of $23.9001 until finishing in the latest session at $27.98.

Guru’s Opinion on Praxis Precision Medicines Inc. [PRAX]:

Piper Sandler have made an estimate for Praxis Precision Medicines Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on November 10, 2020. While these analysts kept the previous recommendation, Evercore ISI raised their target price to Outperform. The new note on the price target was released on November 10, 2020, representing the official price target for Praxis Precision Medicines Inc. stock.

The Average True Range (ATR) for Praxis Precision Medicines Inc. is set at 3.92

PRAX Stock Performance Analysis:

Praxis Precision Medicines Inc. [PRAX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.70.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The RSI for the last a single of trading hit 38.28, while it was recorded at 33.20 for the last single week of trading.

Insight into Praxis Precision Medicines Inc. Fundamentals:

Return on Total Capital for PRAX is now -127.24, given the latest momentum, and Return on Invested Capital for the company is -127.84. Return on Equity for this stock declined to -129.62, with Return on Assets sitting at -105.18. When it comes to the capital structure of this company, Praxis Precision Medicines Inc. [PRAX] has a Total Debt to Total Equity ratio set at 3.64. Additionally, PRAX Total Debt to Total Capital is recorded at 3.51, with Total Debt to Total Assets ending up at 3.06.

Praxis Precision Medicines Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.50 and a Current Ratio set at 2.50.

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