Brokerages Set Praxis Precision Medicines, Inc. (NASDAQ:PRAX) PT at $146.33

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $146.33.

Several equities analysts recently commented on PRAX shares. Wedbush upped their price target on shares of Praxis Precision Medicines from $40.00 to $48.00 and gave the company a “neutral” rating in a report on Wednesday, August 14th. Guggenheim upped their target price on Praxis Precision Medicines from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Needham & Company LLC reissued a “buy” rating and set a $151.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Oppenheimer upped their price objective on Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a research report on Thursday, October 31st. Finally, HC Wainwright reiterated a “buy” rating and set a $120.00 target price on shares of Praxis Precision Medicines in a research report on Thursday, November 7th.

Insider Transactions at Praxis Precision Medicines

In related news, General Counsel Alex Nemiroff sold 8,239 shares of the business’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $80.20, for a total value of $660,767.80. Following the completion of the transaction, the general counsel now owns 10,301 shares of the company’s stock, valued at $826,140.20. The trade was a 44.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lauren Mastrocola sold 5,188 shares of the company’s stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $81.78, for a total value of $424,274.64. Following the sale, the insider now owns 5,613 shares of the company’s stock, valued at approximately $459,031.14. This represents a 48.03 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Amalgamated Bank bought a new stake in Praxis Precision Medicines during the second quarter valued at about $25,000. Quarry LP purchased a new position in shares of Praxis Precision Medicines in the 2nd quarter worth approximately $83,000. US Bancorp DE raised its stake in shares of Praxis Precision Medicines by 35.9% during the 3rd quarter. US Bancorp DE now owns 2,289 shares of the company’s stock worth $132,000 after acquiring an additional 605 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Praxis Precision Medicines during the 1st quarter worth approximately $150,000. Finally, Intech Investment Management LLC acquired a new stake in Praxis Precision Medicines in the third quarter valued at approximately $217,000. 67.84% of the stock is owned by institutional investors.

Praxis Precision Medicines Stock Performance

Shares of Praxis Precision Medicines stock opened at $72.75 on Friday. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of -7.06 and a beta of 2.67. The stock has a 50 day moving average price of $67.52 and a 200-day moving average price of $55.26. Praxis Precision Medicines has a one year low of $14.77 and a one year high of $86.93.

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

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.