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

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAXGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation and nine have assigned a buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $109.90.

Several brokerages have commented on PRAX. Wedbush upped their target price on shares of Praxis Precision Medicines from $26.00 to $28.00 and gave the company an “underperform” rating in a research note on Monday, May 5th. Robert W. Baird decreased their price target on shares of Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating for the company in a report on Monday, March 3rd. Oppenheimer set a $97.00 price objective on shares of Praxis Precision Medicines and gave the company an “outperform” rating in a research report on Monday, June 2nd. Truist Financial dropped their price objective on Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. Finally, HC Wainwright reissued a “buy” rating and issued a $105.00 target price on shares of Praxis Precision Medicines in a research note on Thursday, May 1st.

View Our Latest Research Report on PRAX

Institutional Investors Weigh In On Praxis Precision Medicines

Several institutional investors have recently added to or reduced their stakes in the stock. New York State Common Retirement Fund increased its holdings in Praxis Precision Medicines by 12.1% during the 4th quarter. New York State Common Retirement Fund now owns 7,847 shares of the company’s stock worth $604,000 after purchasing an additional 847 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Praxis Precision Medicines by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 142,892 shares of the company’s stock worth $10,997,000 after buying an additional 5,840 shares during the period. Arizona State Retirement System boosted its position in shares of Praxis Precision Medicines by 4.2% during the fourth quarter. Arizona State Retirement System now owns 3,851 shares of the company’s stock worth $296,000 after buying an additional 156 shares during the period. Swiss National Bank grew its holdings in shares of Praxis Precision Medicines by 4.0% during the fourth quarter. Swiss National Bank now owns 26,100 shares of the company’s stock worth $2,009,000 after buying an additional 1,000 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new position in shares of Praxis Precision Medicines during the fourth quarter worth about $305,000. 67.84% of the stock is owned by institutional investors.

Praxis Precision Medicines Trading Down 2.4%

NASDAQ:PRAX opened at $43.00 on Friday. Praxis Precision Medicines has a 1-year low of $26.70 and a 1-year high of $91.83. The firm has a market capitalization of $875.91 million, a price-to-earnings ratio of -4.01 and a beta of 2.60. The business’s 50-day moving average price is $39.77 and its two-hundred day moving average price is $52.92.

Praxis Precision Medicines (NASDAQ:PRAXGet Free Report) last announced its quarterly earnings results 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 net margin of 2,137.48% and a negative return on equity of 50.42%. Sell-side analysts predict that Praxis Precision Medicines will post -10.22 earnings per share for the current year.

About Praxis Precision Medicines

(Get Free Report

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.

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Analyst Recommendations for Praxis Precision Medicines (NASDAQ:PRAX)

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