Massachusetts Financial Services Co. MA Purchases New Shares in Praxis Precision Medicines, Inc. $PRAX

Key Points

• Massachusetts Financial Services Co. purchased a new stake of 3,316 shares in Praxis Precision Medicines in Q4 valued at about $977,000, and institutional investors now own roughly 67.84% of the stock.
• Analysts have a consensus Buy rating on PRAX with an average price target of $590.78, while individual targets cited range from $305 to $800 and several firms have recently reiterated buy ratings.
• Shares last opened at $342.50 with a $9.54 billion market cap and a 52‑week range of $32.78–$356; the company recently missed quarterly EPS (‑$3.50 vs. ‑$3.00) and analysts expect about ‑10.22 EPS for the year.

Massachusetts Financial Services Co. MA purchased a new stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,316 shares of the company's stock, valued at approximately $977,000.

Several other institutional investors have also added to or reduced their stakes in PRAX. GAMMA Investing LLC boosted its stake in Praxis Precision Medicines by 58.7% in the 4th quarter. GAMMA Investing LLC now owns 238 shares of the company's stock valued at $70,000 after purchasing an additional 88 shares during the period. Tower Research Capital LLC TRC boosted its stake in 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 valued at $77,000 after purchasing an additional 359 shares during the period. AlphaQuest LLC boosted its stake in Praxis Precision Medicines by 1,623.3% in the 3rd quarter. AlphaQuest LLC now owns 1,999 shares of the company's stock valued at $106,000 after purchasing an additional 1,883 shares during the period. ProShare Advisors LLC bought a new stake in Praxis Precision Medicines in the 3rd quarter valued at $203,000. Finally, Coastal Bridge Advisors LLC bought a new stake in Praxis Precision Medicines in the 3rd quarter valued at $204,000. 67.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a "buy" rating and issued a $437.00 price target on shares of Praxis Precision Medicines in a research note on Wednesday. Wells Fargo & Company set a $305.00 price target on Praxis Precision Medicines and gave the company an "equal weight" rating in a research note on Friday, February 20th. Guggenheim restated a "buy" rating and issued a $800.00 price target (up from $760.00) on shares of Praxis Precision Medicines in a research note on Tuesday, February 10th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Praxis Precision Medicines in a report on Monday, December 29th. Finally, TD Cowen reaffirmed a "buy" rating on shares of Praxis Precision Medicines in a report on Thursday, January 29th. Five equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $590.78.

Praxis Precision Medicines Price Performance

Shares of NASDAQ PRAX opened at $342.50 on Friday. The stock has a market capitalization of $9.54 billion, a PE ratio of -25.45 and a beta of 2.94. The business has a fifty day moving average price of $316.68 and a two-hundred day moving average price of $252.88. Praxis Precision Medicines, Inc. has a fifty-two week low of $32.78 and a fifty-two week high of $356.00.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($3.50) earnings per share for the quarter, missing the consensus estimate of ($3.00) by ($0.50). On average, equities analysts expect that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current year.

Praxis Precision Medicines Profile

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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