Praxis Precision Medicines (NASDAQ:PRAX) Earns Buy Rating from HC Wainwright

Praxis Precision Medicines (NASDAQ:PRAX)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Friday,Benzinga reports. They presently have a $105.00 price target on the stock. HC Wainwright’s price target would suggest a potential upside of 85.04% from the company’s current price. HC Wainwright also issued estimates for Praxis Precision Medicines’ Q1 2026 earnings at ($4.32) EPS, Q2 2026 earnings at ($5.01) EPS, Q3 2026 earnings at ($5.02) EPS and Q4 2026 earnings at ($5.03) EPS.

Other equities analysts have also recently issued research reports about the stock. Wedbush boosted their price target on shares of Praxis Precision Medicines from $26.00 to $28.00 and gave the stock an “underperform” rating in a research note on Monday, May 5th. Oppenheimer upped their price objective on shares of Praxis Precision Medicines from $97.00 to $115.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Chardan Capital started coverage on shares of Praxis Precision Medicines in a research note on Wednesday, May 7th. They issued a “buy” rating and a $80.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, June 12th. One analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Praxis Precision Medicines has an average rating of “Moderate Buy” and a consensus price target of $94.11.

Praxis Precision Medicines Trading Up 3.3%

Shares of NASDAQ PRAX traded up $1.80 during midday trading on Friday, hitting $56.74. The company’s stock had a trading volume of 24,338 shares, compared to its average volume of 368,708. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -5.30 and a beta of 2.60. Praxis Precision Medicines has a one year low of $26.70 and a one year high of $91.83. The stock has a fifty day moving average price of $43.07 and a 200 day moving average price of $50.44.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.20) by ($0.09). Praxis Precision Medicines had a negative return on equity of 50.42% and a negative net margin of 2,137.48%. On average, equities research analysts predict that Praxis Precision Medicines will post -10.22 earnings per share for the current fiscal year.

Institutional Trading of Praxis Precision Medicines

Several institutional investors have recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new stake in shares of Praxis Precision Medicines during the 4th quarter valued at about $30,000. GAMMA Investing LLC boosted its holdings in shares of Praxis Precision Medicines by 6,075.4% during the 1st quarter. GAMMA Investing LLC now owns 4,014 shares of the company’s stock valued at $152,000 after acquiring an additional 3,949 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in shares of Praxis Precision Medicines during the 4th quarter valued at about $209,000. KLP Kapitalforvaltning AS purchased a new position in shares of Praxis Precision Medicines in the fourth quarter worth approximately $215,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Praxis Precision Medicines in the fourth quarter worth approximately $231,000. 67.84% of the stock is owned by hedge funds and other institutional investors.

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.