Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Given Average Rating of “Moderate Buy” by Analysts

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $109.90.

PRAX has been the topic of several analyst reports. Needham & Company LLC restated a “buy” rating and set a $80.00 price target on shares of Praxis Precision Medicines in a research note on Monday, May 5th. HC Wainwright reiterated a “buy” rating and issued a $105.00 price objective on shares of Praxis Precision Medicines in a report on Thursday, May 1st. Oppenheimer assumed coverage on Praxis Precision Medicines in a report on Monday. They set an “outperform” rating and a $97.00 target price on the stock. Truist Financial decreased their price target on Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, Robert W. Baird lowered their price objective on Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd.

Praxis Precision Medicines Stock Up 3.3%

Praxis Precision Medicines stock opened at $39.82 on Tuesday. Praxis Precision Medicines has a 12 month low of $26.70 and a 12 month high of $91.83. The stock has a market cap of $811.09 million, a P/E ratio of -3.87 and a beta of 2.65. The company’s fifty day simple moving average is $35.66 and its 200-day simple moving average is $56.69.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings data on Friday, May 2nd. The company reported ($3.29) EPS for the quarter, missing analysts’ consensus estimates of ($3.20) by ($0.09). Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. On average, equities research analysts expect that Praxis Precision Medicines will post -10.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Praxis Precision Medicines

Several large investors have recently made changes to their positions in PRAX. Arizona State Retirement System grew its holdings in Praxis Precision Medicines by 4.2% in the 4th quarter. Arizona State Retirement System now owns 3,851 shares of the company’s stock valued at $296,000 after buying an additional 156 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Praxis Precision Medicines by 2.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,135 shares of the company’s stock valued at $856,000 after acquiring an additional 258 shares during the period. California State Teachers Retirement System grew its stake in shares of Praxis Precision Medicines by 2.2% in the fourth quarter. California State Teachers Retirement System now owns 12,726 shares of the company’s stock worth $979,000 after acquiring an additional 275 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in Praxis Precision Medicines during the fourth quarter worth $30,000. Finally, MetLife Investment Management LLC raised its stake in Praxis Precision Medicines by 5.4% during the 4th quarter. MetLife Investment Management LLC now owns 10,675 shares of the company’s stock valued at $822,000 after purchasing an additional 544 shares during the last quarter. Institutional investors and hedge funds own 67.84% of the company’s stock.

Praxis Precision Medicines Company Profile

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, engages in the development of therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance. It is developing ulixacaltamide, a small molecule inhibitor of T-type calcium channels that is in Phase III clinical trial for the treatment of essential tremor; PRAX-562 for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEE); and PRAX-628 to treat focal epilepsy.