Praxis Precision Medicines (NASDAQ:PRAX) Stock Gets Price Target Trim from Wells Fargo & Company

Praxis Precision Medicines (NASDAQ:PRAX) had its price objective lowered by Wells Fargo & Company from $362.00 to $343.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

PRAX has been the topic of a number of other reports. Raymond James Financial reiterated a “strong-buy” rating and set a $945.00 target price on shares of Praxis Precision Medicines in a report on Monday, August 17th. UBS Group started coverage on shares of Praxis Precision Medicines in a research note on Wednesday, October 14th. They issued a “buy” rating and a $706.00 price target for the company. BTIG Research reaffirmed a “buy” rating and set a $826.00 price objective on shares of Praxis Precision Medicines in a research report on Monday. Wall Street Zen lowered Praxis Precision Medicines from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Finally, The Goldman Sachs Group reiterated a “buy” rating and issued a $575.00 price objective (up from $470.00) on shares of Praxis Precision Medicines in a research note on Friday, August 21st. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $631.68.

Praxis Precision Medicines Stock Performance

NASDAQ PRAX opened at $324.76 on Tuesday. The firm has a 50 day simple moving average of $290.44 and a 200-day simple moving average of $314.31. Praxis Precision Medicines has a one year low of $160.11 and a one year high of $392.70. The firm has a market cap of $9.08 billion, a price-to-earnings ratio of -25.37 and a beta of 2.85.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data on Monday, November 9th. The company reported ($3.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.54) by $0.31. Equities analysts predict that Praxis Precision Medicines will post -13.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Praxis Precision Medicines

Several institutional investors have recently modified their holdings of PRAX. Janus Henderson Group PLC grew its stake in shares of Praxis Precision Medicines by 6.8% during the first quarter. Janus Henderson Group PLC now owns 3,458,863 shares of the company’s stock worth $1,113,514,000 after purchasing an additional 218,777 shares in the last quarter. Perceptive Advisors LLC increased its holdings in Praxis Precision Medicines by 2.0% in the first quarter. Perceptive Advisors LLC now owns 2,035,986 shares of the company’s stock valued at $655,974,000 after buying an additional 40,000 shares during the last quarter. Bank of America Corp DE raised its stake in Praxis Precision Medicines by 2.3% in the first quarter. Bank of America Corp DE now owns 534,604 shares of the company’s stock valued at $172,244,000 after buying an additional 11,841 shares in the last quarter. Vivo Capital LLC raised its stake in Praxis Precision Medicines by 3.0% in the first quarter. Vivo Capital LLC now owns 338,895 shares of the company’s stock valued at $109,189,000 after buying an additional 10,000 shares in the last quarter. Finally, Aberdeen Group plc raised its stake in Praxis Precision Medicines by 28.2% in the third quarter. Aberdeen Group plc now owns 213,400 shares of the company’s stock valued at $62,148,000 after buying an additional 47,001 shares in the last quarter. 67.84% of the stock is owned by hedge funds and other institutional investors.

Top Praxis Precision Medicines Stories

These are some of the PRAX stories that stood out recently:

• Positive Sentiment: At its Investor Day, Praxis outlined launch preparations for relutrigine and ulixacaltamide, with FDA target action dates of December 27, 2026, and January 29, 2027, respectively. The company also discussed its expanded pipeline, giving investors near-term regulatory milestones and potential commercial catalysts to watch. Investor Day announcement
• Positive Sentiment: HC Wainwright raised its 2026 EPS estimate, projecting a smaller loss of $13.45 per share versus its prior $14.09 estimate, and maintained a Buy rating. BTIG and RBC Capital also issued Buy ratings, while RBC and Wedbush were reported as forecasting strong share-price appreciation. Analyst estimate update BTIG rating RBC rating
• Negative Sentiment: Wells Fargo cut its price target on PRAX, a counterpoint to the recent Buy ratings and estimate increase. The available report does not specify the revised target or rationale. Wells Fargo price-target report

Praxis Precision Medicines Company Profile

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on developing treatments for neurological and psychiatric disorders. The company applies neuroscience and precision-medicine research to conditions involving abnormalities in brain circuits and neuronal activity. Its investigational programs have included small-molecule therapies for disorders such as essential tremor and epilepsy, as well as genetic-medicine approaches for certain rare neurological conditions. These candidates are in development and are not approved treatments.