Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Receives $590.78 Consensus Target Price from Analysts
by Jessica Moore · The Cerbat GemPraxis Precision Medicines, Inc. (NASDAQ:PRAX – Get Free Report) has received a consensus rating of “Buy” from the twenty ratings firms that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, twelve have given a buy recommendation and five have given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $590.7778.
Several research analysts have issued reports on PRAX shares. Wedbush increased their target price on shares of Praxis Precision Medicines from $95.00 to $130.00 and gave the stock an “underperform” rating in a report on Friday, February 20th. Guggenheim reissued a “buy” rating and set a $800.00 target price (up from $760.00) on shares of Praxis Precision Medicines in a research report on Tuesday, February 10th. TD Cowen reissued a “buy” rating on shares of Praxis Precision Medicines in a research report on Thursday, January 29th. BTIG Research reissued a “buy” rating and set a $843.00 price objective on shares of Praxis Precision Medicines in a report on Monday, April 6th. Finally, Citigroup reissued a “conviction-buy” rating on shares of Praxis Precision Medicines in a report on Tuesday, December 30th.
Check Out Our Latest Stock Report on Praxis Precision Medicines
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the stock. NBC Securities Inc. bought a new position in shares of Praxis Precision Medicines in the 4th quarter worth $38,000. Danske Bank A S bought a new position in shares of Praxis Precision Medicines in the 4th quarter worth $59,000. GAMMA Investing LLC raised its position in shares of Praxis Precision Medicines by 58.7% in the 4th quarter. GAMMA Investing LLC now owns 238 shares of the company’s stock worth $70,000 after acquiring an additional 88 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of Praxis Precision Medicines by 24.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,837 shares of the company’s stock worth $77,000 after acquiring an additional 359 shares in the last quarter. Finally, AlphaQuest LLC raised its position in shares of Praxis Precision Medicines by 1,623.3% in the 3rd quarter. AlphaQuest LLC now owns 1,999 shares of the company’s stock worth $106,000 after acquiring an additional 1,883 shares in the last quarter. 67.84% of the stock is owned by institutional investors.
Praxis Precision Medicines Stock Performance
NASDAQ PRAX opened at $344.82 on Friday. The company’s 50-day moving average price is $318.32 and its 200-day moving average price is $265.75. The stock has a market cap of $9.60 billion, a PE ratio of -25.62 and a beta of 2.94. Praxis Precision Medicines has a 12 month low of $34.85 and a 12 month high of $356.00.
Praxis Precision Medicines (NASDAQ:PRAX – Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($3.50) EPS for the quarter, missing analysts’ consensus estimates of ($3.00) by ($0.50). As a group, sell-side analysts forecast that Praxis Precision Medicines will post -14.88 earnings per share for the current year.
About Praxis Precision Medicines
Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing precision therapies for disorders driven by neuronal excitability. The company applies translational neuroscience and genetic insights to design small molecule drugs that target specific ion channels and receptor subtypes implicated in neurological and psychiatric conditions. Its research aims to address unmet needs in rare epilepsies, essential tremor, treatment-resistant depression and other central nervous system (CNS) disorders.
The company’s pipeline includes several lead candidates at various stages of development.