HC Wainwright Reaffirms Buy Rating for Praxis Precision Medicines (NASDAQ:PRAX)

Key Points

• HC Wainwright has increased the price target for Praxis Precision Medicines (NASDAQ:PRAX) from $105 to $115, indicating a potential upside of 125.09% from its previous close.
• Despite the bullish forecast from HC Wainwright, analysts' ratings for the stock vary, with one analyst issuing a sell rating while eight others have given it a buy rating.
• Praxis Precision Medicines reported a loss of ($3.31) earnings per share for the most recent quarter but surpassed analysts' estimates by $0.09.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report)'s stock had its "buy" rating reiterated by stock analysts at HC Wainwright in a note issued to investors on Tuesday, August 5th, MarketBeat.com reports. They presently have a $115.00 price objective on the stock, up from their previous price objective of $105.00. HC Wainwright's price target suggests a potential upside of 155.84% from the stock's current price. HC Wainwright also issued estimates for Praxis Precision Medicines' Q3 2025 earnings at ($3.78) EPS, Q4 2025 earnings at ($4.25) EPS, FY2025 earnings at ($14.63) EPS, Q1 2026 earnings at ($4.23) EPS, Q2 2026 earnings at ($4.50) EPS, Q3 2026 earnings at ($4.60) EPS, Q4 2026 earnings at ($4.64) EPS, FY2026 earnings at ($17.98) EPS, FY2027 earnings at ($15.86) EPS, FY2028 earnings at ($7.64) EPS and FY2029 earnings at $21.43 EPS.

Other research analysts have also issued reports about the company. Oppenheimer lifted their target price on Praxis Precision Medicines from $97.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Wedbush lifted their target price on Praxis Precision Medicines from $26.00 to $28.00 and gave the company an "underperform" rating in a report on Monday, May 5th. Needham & Company LLC reiterated a "buy" rating and issued a $80.00 target price on shares of Praxis Precision Medicines in a report on Thursday, June 12th. Finally, Chardan Capital reaffirmed a "buy" rating and set a $80.00 price target on shares of Praxis Precision Medicines in a report on Tuesday, July 29th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $95.22.

Praxis Precision Medicines Stock Performance

NASDAQ:PRAX opened at $44.95 on Tuesday. Praxis Precision Medicines has a one year low of $26.70 and a one year high of $91.83. The stock has a market cap of $946.20 million, a PE ratio of -3.66 and a beta of 2.62. The stock has a 50 day moving average price of $48.21 and a 200 day moving average price of $47.63.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last posted its earnings results on Monday, August 4th. The company reported ($3.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.40) by $0.09. Praxis Precision Medicines had a negative return on equity of 60.07% and a negative net margin of 2,137.48%. As a group, analysts predict that Praxis Precision Medicines will post -10.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Praxis Precision Medicines by 2.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,135 shares of the company's stock valued at $856,000 after purchasing an additional 258 shares in the last quarter. California State Teachers Retirement System increased its holdings in Praxis Precision Medicines by 2.2% in the 4th quarter. California State Teachers Retirement System now owns 12,726 shares of the company's stock valued at $979,000 after purchasing an additional 275 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Praxis Precision Medicines by 88.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 629 shares of the company's stock valued at $26,000 after purchasing an additional 295 shares in the last quarter. GF Fund Management CO. LTD. acquired a new stake in Praxis Precision Medicines in the 4th quarter valued at $30,000. Finally, MetLife Investment Management LLC grew its stake in shares of Praxis Precision Medicines by 5.4% during the fourth quarter. MetLife Investment Management LLC now owns 10,675 shares of the company's stock valued at $822,000 after acquiring an additional 544 shares in the last quarter. 67.84% of the stock is owned by hedge funds and other institutional investors.

Praxis Precision Medicines Company Profile

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.