TD Asset Management Inc Buys 5,262 Shares of Praxis Precision Medicines, Inc. $PRAX

by · The Markets Daily

TD Asset Management Inc grew its stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX – Free Report) by 12.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,146 shares of the company’s stock after purchasing an additional 5,262 shares during the quarter. TD Asset Management Inc owned about 0.18% of Praxis Precision Medicines worth $13,601,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PRAX. Woodline Partners LP raised its holdings in Praxis Precision Medicines by 808.9% in the 3rd quarter. Woodline Partners LP now owns 417,669 shares of the company’s stock worth $22,136,000 after purchasing an additional 371,717 shares in the last quarter. Pictet Asset Management Holding SA bought a new position in Praxis Precision Medicines in the 4th quarter worth $71,085,000. Adage Capital Partners GP L.L.C. raised its holdings in Praxis Precision Medicines by 13.3% in the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,974,585 shares of the company’s stock worth $83,031,000 after purchasing an additional 231,827 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Praxis Precision Medicines by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 1,460,933 shares of the company’s stock worth $430,595,000 after acquiring an additional 193,647 shares in the last quarter. Finally, Deerfield Management Company L.P. increased its stake in shares of Praxis Precision Medicines by 22.4% in the 3rd quarter. Deerfield Management Company L.P. now owns 840,851 shares of the company’s stock worth $44,565,000 after acquiring an additional 153,920 shares in the last quarter. 67.84% of the stock is currently owned by institutional investors.

Praxis Precision Medicines Stock Performance

Shares of PRAX stock opened at $253.25 on Tuesday. Praxis Precision Medicines, Inc. has a one year low of $37.19 and a one year high of $366.52. The company’s 50-day moving average is $323.37 and its 200 day moving average is $299.29. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of -18.94 and a beta of 2.71.

Praxis Precision Medicines (NASDAQ:PRAX – Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($3.20) EPS for the quarter, beating the consensus estimate of ($3.58) by $0.38. As a group, research analysts predict that Praxis Precision Medicines, Inc. will post -14.79 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PRAX has been the subject of several research reports. Oppenheimer reiterated an “outperform” rating and issued a $650.00 price target (down from $750.00) on shares of Praxis Precision Medicines in a research note on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $374.00 price target (down from $420.00) on shares of Praxis Precision Medicines in a research note on Tuesday, June 2nd. Wedbush decreased their price target on shares of Praxis Precision Medicines from $166.00 to $162.00 and set an “underperform” rating for the company in a research note on Tuesday, June 2nd. Jefferies Financial Group reiterated a “buy” rating on shares of Praxis Precision Medicines in a research note on Thursday, May 7th. Finally, HC Wainwright decreased their price target on shares of Praxis Precision Medicines from $1,245.00 to $1,201.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. Four analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Praxis Precision Medicines presently has an average rating of “Moderate Buy” and a consensus target price of $572.72.

Read Our Latest Stock Report on Praxis Precision Medicines

Praxis Precision Medicines Company Profile

(Free Report)

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.

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