Praxis Precision Medicines (PRAX) – Investment Analysts’ Recent Ratings Changes

Several analysts have recently updated their ratings and price targets for Praxis Precision Medicines (NASDAQ: PRAX):

• 9/10/2024 – Praxis Precision Medicines had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $120.00 price target on the stock.
• 9/4/2024 – Praxis Precision Medicines had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $143.00 price target on the stock, up previously from $134.00.
• 9/3/2024 – Praxis Precision Medicines had its “buy” rating reaffirmed by analysts at HC Wainwright. They now have a $120.00 price target on the stock.
• 9/3/2024 – Praxis Precision Medicines had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $145.00 price target on the stock.
• 8/15/2024 – Praxis Precision Medicines had its price target raised by analysts at HC Wainwright from $105.00 to $120.00. They now have a “buy” rating on the stock.
• 8/14/2024 – Praxis Precision Medicines had its “outperform” rating reaffirmed by analysts at Oppenheimer Holdings Inc.. They now have a $134.00 price target on the stock.
• 8/14/2024 – Praxis Precision Medicines had its price target raised by analysts at Wedbush from $40.00 to $48.00. They now have a “neutral” rating on the stock.
• 8/14/2024 – Praxis Precision Medicines had its price target raised by analysts at Guggenheim from $155.00 to $170.00. They now have a “buy” rating on the stock.
• 8/12/2024 – Praxis Precision Medicines had its “buy” rating reaffirmed by analysts at Needham & Company LLC. They now have a $145.00 price target on the stock.
• 8/5/2024 – Praxis Precision Medicines is now covered by analysts at Oppenheimer Holdings Inc.. They set an “outperform” rating and a $134.00 price target on the stock.

Praxis Precision Medicines Stock Performance

NASDAQ:PRAX traded down $0.57 during trading hours on Tuesday, hitting $57.72. 238,594 shares of the company’s stock traded hands, compared to its average volume of 277,398. Praxis Precision Medicines, Inc. has a twelve month low of $13.01 and a twelve month high of $67.21. The stock’s fifty day moving average price is $54.37 and its two-hundred day moving average price is $50.60. The firm has a market cap of $1.03 billion, a P/E ratio of -3.64 and a beta of 2.72.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings results on Tuesday, August 13th. The company reported ($1.74) EPS for the quarter, beating the consensus estimate of ($2.38) by $0.64. Praxis Precision Medicines had a negative return on equity of 61.47% and a negative net margin of 6,987.01%. The business had revenue of $0.36 million during the quarter, compared to analysts’ expectations of $1.44 million. On average, equities research analysts predict that Praxis Precision Medicines, Inc. will post -8.5 earnings per share for the current year.

Hedge Funds Weigh In On Praxis Precision Medicines

Institutional investors have recently made changes to their positions in the business. Amalgamated Bank bought a new position in shares of Praxis Precision Medicines during the 2nd quarter worth about $25,000. Quarry LP acquired a new stake in Praxis Precision Medicines during the second quarter worth about $83,000. SG Americas Securities LLC bought a new position in Praxis Precision Medicines during the first quarter valued at about $150,000. DLD Asset Management LP acquired a new position in Praxis Precision Medicines in the 4th quarter valued at approximately $223,000. Finally, Chase Investment Counsel Corp acquired a new position in Praxis Precision Medicines in the 1st quarter valued at approximately $229,000. 67.84% of the stock is currently owned by institutional investors.

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.