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

Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) has been given an average rating of "Moderate Buy" by the nine ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $92.11.

A number of equities research analysts have issued reports on PRAX shares. HC Wainwright restated a "buy" rating and set a $105.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, May 1st. Oppenheimer set a $97.00 price target on Praxis Precision Medicines and gave the company an "outperform" rating in a report on Monday, June 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $80.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, June 12th. Chardan Capital initiated coverage on shares of Praxis Precision Medicines in a research report on Wednesday, May 7th. They set a "buy" rating and a $80.00 price objective on the stock. Finally, Wedbush increased their target price on shares of Praxis Precision Medicines from $26.00 to $28.00 and gave the company an "underperform" rating in a research note on Monday, May 5th.

Institutional Trading of Praxis Precision Medicines

Several institutional investors and hedge funds have recently made changes to their positions in PRAX. California State Teachers Retirement System grew its holdings in shares of 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 during the last quarter. GAMMA Investing LLC boosted its position in Praxis Precision Medicines by 6,075.4% in 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 during the period. Rhumbline Advisers grew its stake in Praxis Precision Medicines by 6.7% in the 1st quarter. Rhumbline Advisers now owns 24,294 shares of the company's stock worth $920,000 after acquiring an additional 1,525 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Praxis Precision Medicines by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 1,063,639 shares of the company's stock worth $81,858,000 after acquiring an additional 24,645 shares during the period. Finally, Ameriprise Financial Inc. purchased a new position in shares of Praxis Precision Medicines during the fourth quarter worth approximately $248,000. 67.84% of the stock is currently owned by institutional investors.

Praxis Precision Medicines Stock Up 2.7%

Praxis Precision Medicines stock traded up $1.12 during mid-day trading on Friday, reaching $43.17. 202,892 shares of the company's stock traded hands, compared to its average volume of 366,220. Praxis Precision Medicines has a 12-month low of $26.70 and a 12-month high of $91.83. The stock has a 50 day moving average of $40.05 and a two-hundred day moving average of $52.38. The company has a market cap of $879.37 million, a price-to-earnings ratio of -4.03 and a beta of 2.60.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last posted its earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share for the quarter, missing analysts' consensus estimates of ($3.20) by ($0.09). Praxis Precision Medicines had a negative return on equity of 50.42% and a negative net margin of 2,137.48%. As a group, sell-side analysts forecast that Praxis Precision Medicines will post -10.22 earnings per share 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.