State of New Jersey Common Pension Fund D Acquires New Position in Praxis Precision Medicines, Inc. $PRAX

Key Points

• State of New Jersey Common Pension Fund D disclosed a new position in Praxis Precision Medicines, buying 7,018 shares worth about $2.07 million in the fourth quarter. Institutional investors now hold 67.84% of the company’s stock.
• Praxis reported quarterly EPS of ($3.20), which beat Wall Street’s estimate of ($3.58). The company also said the FDA accepted NDA filings for ulixacaltamide and relutrigine, potentially setting up major regulatory catalysts ahead.
• Analyst sentiment remains mostly positive, with multiple firms maintaining or raising bullish targets; BTIG lifted its target to $843 and Piper Sandler to $1,200. Still, views are mixed, as Wedbush kept an Underperform rating despite also raising its target.

State of New Jersey Common Pension Fund D acquired a new stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 7,018 shares of the company's stock, valued at approximately $2,068,000.

Other large investors have also recently bought and sold shares of the company. NBC Securities Inc. bought a new stake in Praxis Precision Medicines in the fourth quarter valued at approximately $38,000. GAMMA Investing LLC boosted its holdings in shares of Praxis Precision Medicines by 58.7% in the fourth quarter. GAMMA Investing LLC now owns 238 shares of the company's stock valued at $70,000 after buying an additional 88 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Praxis Precision Medicines by 60.0% in the fourth quarter. Farther Finance Advisors LLC now owns 368 shares of the company's stock valued at $108,000 after buying an additional 138 shares during the period. GF Fund Management CO. LTD. boosted its holdings in shares of Praxis Precision Medicines by 8.2% in the fourth quarter. GF Fund Management CO. LTD. now owns 490 shares of the company's stock valued at $144,000 after buying an additional 37 shares during the period. Finally, KBC Group NV acquired a new position in shares of Praxis Precision Medicines in the fourth quarter valued at approximately $199,000. Institutional investors own 67.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PRAX shares. Wells Fargo & Company set a $305.00 price target on shares of Praxis Precision Medicines and gave the company an "equal weight" rating in a report on Friday, February 20th. BTIG Research reiterated a "buy" rating and issued a $843.00 price target on shares of Praxis Precision Medicines in a report on Friday. Wolfe Research started coverage on shares of Praxis Precision Medicines in a report on Monday, February 23rd. They issued an "outperform" rating and a $500.00 price target for the company. Deutsche Bank Aktiengesellschaft set a $420.00 target price on Praxis Precision Medicines in a research note on Friday. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $1,200.00 price target (up from $450.00) on shares of Praxis Precision Medicines in a research note on Wednesday, January 28th. Five analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $591.83.

Praxis Precision Medicines Stock Performance

Shares of NASDAQ PRAX opened at $330.02 on Monday. The stock has a 50 day moving average price of $317.78 and a 200 day moving average price of $277.56. Praxis Precision Medicines, Inc. has a 52 week low of $35.21 and a 52 week high of $356.00. The stock has a market capitalization of $9.20 billion, a PE ratio of -24.68 and a beta of 2.76.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($3.20) earnings per share for the quarter, topping the consensus estimate of ($3.58) by $0.38. As a group, research analysts forecast that Praxis Precision Medicines, Inc. will post -15.16 EPS for the current year.

Key Stories Impacting Praxis Precision Medicines

Here are the key news stories impacting Praxis Precision Medicines this week:

• Positive Sentiment: The company reported first-quarter 2026 results with a smaller-than-expected loss, as EPS of ($3.20) beat estimates of ($3.58), which can help reassure investors ahead of future commercialization. Praxis earnings report
• Positive Sentiment: Praxis said the FDA accepted NDA filings for ulixacaltamide in essential tremor and relutrigine in SCN2A/SCN8A developmental and epileptic encephalopathies, giving the pipeline clearer regulatory timelines and potential catalysts in 2026-2027. Corporate update and Q1 2026 results
• Neutral Sentiment: BTIG reiterated a Buy rating and raised its price target sharply to $843, signaling strong long-term optimism even after the stock’s recent run-up. BTIG research update
• Negative Sentiment: Wedbush raised its target to $166 but kept an Underperform rating, highlighting meaningful downside risk versus the current share price and creating a conflicting message for investors. Wedbush rating update
• Neutral Sentiment: A Globe and Mail article noted analysts are bullish on Praxis alongside other healthcare names, adding to the broader positive attention on the stock. Analysts bullish on PRAX

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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