Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Given Average Rating of "Moderate Buy" by Analysts

Key Points

• Praxis Precision Medicines, Inc. has received a consensus rating of "Moderate Buy" from ten analysts, with price targets ranging from $80.00 to $115.00.
• The company's stock has experienced significant institutional investment, with 67.84% currently owned by institutional investors including major increases from California State Teachers Retirement System and Deutsche Bank AG.
• Praxis reported a negative earnings per share of ($3.31) for its last quarterly earnings, slightly beating analysts' expectations of ($3.40).

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the ten analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, eight have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $85.8750.

Several research firms have weighed in on PRAX. HC Wainwright reissued a "buy" rating and issued a $115.00 price target (up from $105.00) on shares of Praxis Precision Medicines in a research note on Tuesday, August 5th. Needham & Company LLC reiterated a "buy" rating and set a $80.00 price target on shares of Praxis Precision Medicines in a report on Thursday, June 12th. Oppenheimer upped their price target on shares of Praxis Precision Medicines from $97.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Praxis Precision Medicines in a research note on Tuesday, September 2nd. Finally, Lifesci Capital raised Praxis Precision Medicines to a "strong-buy" rating in a research report on Wednesday, September 3rd.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System raised its holdings in Praxis Precision Medicines by 2.2% in the fourth quarter. California State Teachers Retirement System now owns 12,726 shares of the company's stock worth $979,000 after purchasing an additional 275 shares in the last quarter. GAMMA Investing LLC increased its position in Praxis Precision Medicines by 6,075.4% during the 1st quarter. GAMMA Investing LLC now owns 4,014 shares of the company's stock valued at $152,000 after buying an additional 3,949 shares in the last quarter. Ameriprise Financial Inc. bought a new position in Praxis Precision Medicines during the 4th quarter valued at approximately $248,000. Rhumbline Advisers increased its position in Praxis Precision Medicines by 6.7% during the 1st quarter. Rhumbline Advisers now owns 24,294 shares of the company's stock valued at $920,000 after buying an additional 1,525 shares in the last quarter. Finally, Deutsche Bank AG increased its position in Praxis Precision Medicines by 48.6% during the 4th quarter. Deutsche Bank AG now owns 15,324 shares of the company's stock valued at $1,179,000 after buying an additional 5,009 shares in the last quarter. 67.84% of the stock is currently owned by institutional investors.

Praxis Precision Medicines Price Performance

NASDAQ:PRAX opened at $40.23 on Thursday. The business has a 50 day moving average of $49.25 and a 200 day moving average of $42.63. The company has a market capitalization of $846.84 million, a price-to-earnings ratio of -3.27 and a beta of 2.61. Praxis Precision Medicines has a 1-year low of $26.70 and a 1-year high of $91.83.

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

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.

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