Praxis Precision Medicines, Inc. (PRAX) – What Are Analysts Saying About This Stock?

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) have been given an average rating of “Moderate Buy” by the twenty-two ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, sixteen have issued a buy rating and three have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $631.68.

Several analysts recently commented on the stock. The Goldman Sachs Group reissued a “buy” rating and set a $575.00 price objective (up from $470.00) on shares of Praxis Precision Medicines in a research report on Friday, August 21st. Needham & Company LLC reiterated a “buy” rating and issued a $582.00 target price on shares of Praxis Precision Medicines in a research note on Thursday, September 24th. Robert W. Baird set a $514.00 price target on shares of Praxis Precision Medicines in a report on Friday, August 7th. Raymond James Financial restated a “strong-buy” rating and issued a $945.00 price objective on shares of Praxis Precision Medicines in a report on Monday, August 17th. Finally, Wedbush upped their price objective on Praxis Precision Medicines from $188.00 to $189.00 and gave the company an “underperform” rating in a research report on Tuesday, November 10th.

Praxis Precision Medicines Trading Up 1.0%

NASDAQ:PRAX traded up $3.37 during trading hours on Tuesday, reaching $328.13. 350,903 shares of the company traded hands, compared to its average volume of 499,770. The business’s 50-day moving average price is $289.90 and its two-hundred day moving average price is $314.38. Praxis Precision Medicines has a 1 year low of $160.11 and a 1 year high of $392.70. The stock has a market capitalization of $9.17 billion, a P/E ratio of -25.64 and a beta of 2.85.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results on Monday, November 9th. The company reported ($3.23) EPS for the quarter, topping analysts’ consensus estimates of ($3.54) by $0.31. As a group, equities analysts anticipate that Praxis Precision Medicines will post -13.93 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PRAX. Integrated Wealth Concepts LLC purchased a new stake in shares of Praxis Precision Medicines during the 2nd quarter valued at about $38,000. Parallel Advisors LLC lifted its position in Praxis Precision Medicines by 3,000.0% during the first quarter. Parallel Advisors LLC now owns 124 shares of the company’s stock valued at $40,000 after purchasing an additional 120 shares during the period. IFP Advisors Inc grew its position in Praxis Precision Medicines by 632.0% in the 3rd quarter. IFP Advisors Inc now owns 183 shares of the company’s stock worth $53,000 after purchasing an additional 158 shares during the period. GAMMA Investing LLC raised its stake in Praxis Precision Medicines by 10.3% during the 2nd quarter. GAMMA Investing LLC now owns 332 shares of the company’s stock valued at $111,000 after buying an additional 31 shares during the last quarter. Finally, Provenance Wealth Advisors LLC purchased a new stake in Praxis Precision Medicines during the 3rd quarter valued at $128,000. 67.84% of the stock is owned by institutional investors.

Latest Praxis Precision Medicines News

These are some of the PRAX news items that stood out recently:

• Positive Sentiment: The FDA set PDUFA target action dates of December 27, 2026, for relutrigine and January 29, 2027, for ulixacaltamide. These dates put regulatory decisions on the near-term horizon, though approval is not assured. FDA target action dates
• Positive Sentiment: At Investor Day, Praxis outlined launch readiness for both candidates and an expanded pipeline, signaling preparations to commercialize the drugs if approved. Investor Day announcement
• Negative Sentiment: Wells Fargo cut its price target for PRAX, a more cautious analyst signal. The report provided here does not specify the revised target. 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.