Praxis Precision Medicines’ (PRAX) “Buy” Rating Reaffirmed at HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Praxis Precision Medicines (NASDAQ:PRAX) in a research note published on Thursday morning,Benzinga reports. HC Wainwright currently has a $120.00 target price on the stock.

A number of other equities research analysts also recently commented on PRAX. Wedbush upped their price objective on Praxis Precision Medicines from $40.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $145.00 price target on shares of Praxis Precision Medicines in a research note on Tuesday, September 3rd. Oppenheimer lifted their price objective on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Finally, Guggenheim upped their target price on shares of Praxis Precision Medicines from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $146.33.

Praxis Precision Medicines Trading Up 3.4 %

Praxis Precision Medicines stock opened at $77.88 on Thursday. Praxis Precision Medicines has a 1 year low of $13.01 and a 1 year high of $78.08. The company’s 50-day moving average is $64.68 and its two-hundred day moving average is $54.14. The company has a market cap of $1.45 billion, a PE ratio of -7.56 and a beta of 2.67.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.01) by ($0.74). The business had revenue of $0.30 million during the quarter, compared to the consensus estimate of $0.53 million. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. During the same period in the previous year, the business posted ($2.70) earnings per share. Research analysts forecast that Praxis Precision Medicines will post -10.26 EPS for the current year.

Institutional Investors Weigh In On Praxis Precision Medicines

Large investors have recently made changes to their positions in the stock. Amalgamated Bank bought a new stake in Praxis Precision Medicines in the 2nd quarter valued at $25,000. Quarry LP acquired a new position in shares of Praxis Precision Medicines during the second quarter worth about $83,000. US Bancorp DE grew its holdings in shares of Praxis Precision Medicines by 35.9% during the third quarter. US Bancorp DE now owns 2,289 shares of the company’s stock worth $132,000 after buying an additional 605 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Praxis Precision Medicines during the first quarter worth about $150,000. Finally, Intech Investment Management LLC bought a new stake in Praxis Precision Medicines in the 3rd quarter valued at approximately $217,000. Institutional investors own 67.84% of the company’s stock.

About Praxis Precision Medicines

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.