HC Wainwright Cuts Praxis Precision Medicines (NASDAQ:PRAX) Price Target to $105.00

Praxis Precision Medicines (NASDAQ:PRAX) had its price objective decreased by HC Wainwright from $120.00 to $105.00 in a research report released on Monday, Marketbeat Ratings reports. HC Wainwright currently has a buy rating on the stock. HC Wainwright also issued estimates for Praxis Precision Medicines’ Q1 2025 earnings at ($3.18) EPS, Q2 2025 earnings at ($3.64) EPS, Q3 2025 earnings at ($4.15) EPS, Q4 2025 earnings at ($4.16) EPS, FY2025 earnings at ($15.13) EPS, Q1 2026 earnings at ($4.39) EPS, Q2 2026 earnings at ($4.82) EPS, Q3 2026 earnings at ($4.89) EPS, Q4 2026 earnings at ($4.90) EPS, FY2026 earnings at ($18.99) EPS, FY2027 earnings at ($15.64) EPS, FY2028 earnings at ($15.64) EPS and FY2029 earnings at $23.38 EPS.

A number of other equities analysts also recently issued reports on PRAX. Robert W. Baird dropped their price objective on shares of Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating on the stock in a report on Monday. Needham & Company LLC dropped their price objective on shares of Praxis Precision Medicines from $150.00 to $85.00 and set a “buy” rating on the stock in a report on Monday. Truist Financial raised their price objective on shares of Praxis Precision Medicines from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Praxis Precision Medicines in a report on Tuesday, February 11th. They issued a “buy” rating and a $111.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.80.

Praxis Precision Medicines Stock Up 4.5 %

Shares of NASDAQ PRAX opened at $37.85 on Monday. The firm’s 50-day moving average price is $73.74 and its 200-day moving average price is $69.30. The company has a market cap of $763.17 million, a PE ratio of -3.67 and a beta of 2.76. Praxis Precision Medicines has a 52-week low of $30.01 and a 52-week high of $91.83.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings results on Friday, February 28th. The company reported ($2.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.18). The company had revenue of $7.48 million for the quarter, compared to analysts’ expectations of $0.36 million. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. As a group, equities research analysts anticipate that Praxis Precision Medicines will post -10.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Praxis Precision Medicines

Large investors have recently bought and sold shares of the business. US Bancorp DE boosted its stake 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 valued at $132,000 after purchasing an additional 605 shares during the period. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Praxis Precision Medicines during the third quarter valued at $231,000. CIBC Asset Management Inc boosted its stake in shares of Praxis Precision Medicines by 29.2% during the third quarter. CIBC Asset Management Inc now owns 248,939 shares of the company’s stock valued at $14,324,000 after purchasing an additional 56,272 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Praxis Precision Medicines during the third quarter valued at $217,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Praxis Precision Medicines by 188.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 137,052 shares of the company’s stock valued at $7,886,000 after purchasing an additional 89,578 shares during the period. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Company Profile

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.