Brokerages Set Praxis Precision Medicines, Inc. (NASDAQ:PRAX) PT at $94.11

Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) has received an average recommendation of "Moderate Buy" from the nine research firms that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $94.11.

Several research analysts recently commented on PRAX shares. HC Wainwright reissued a "buy" rating and set a $105.00 target price on shares of Praxis Precision Medicines in a research note on Friday, July 18th. Needham & Company LLC reaffirmed a "buy" rating and set a $80.00 price target on shares of Praxis Precision Medicines in a report on Thursday, June 12th. Oppenheimer lifted their price target on Praxis Precision Medicines from $97.00 to $115.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Chardan Capital initiated coverage on Praxis Precision Medicines in a report on Wednesday, May 7th. They set a "buy" rating and a $80.00 price target for the company. Finally, Wedbush lifted their price target on Praxis Precision Medicines from $26.00 to $28.00 and gave the stock an "underperform" rating in a report on Monday, May 5th.

Praxis Precision Medicines Stock Up 1.2%

NASDAQ:PRAX traded up $0.71 on Wednesday, reaching $58.72. The company's stock had a trading volume of 108,621 shares, compared to its average volume of 433,111. 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 price of $44.89 and a 200 day moving average price of $49.66. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of -5.56 and a beta of 2.60.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its quarterly earnings data 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 net margin of 2,137.48% and a negative return on equity of 50.42%. Equities research analysts expect that Praxis Precision Medicines will post -10.22 EPS for the current fiscal year.

Institutional Trading of Praxis Precision Medicines

Institutional investors and hedge funds have recently made changes to their positions in the company. GF Fund Management CO. LTD. purchased a new stake in Praxis Precision Medicines during the 4th quarter valued at approximately $30,000. CWM LLC raised its stake in Praxis Precision Medicines by 877.9% during the 2nd quarter. CWM LLC now owns 753 shares of the company's stock valued at $32,000 after acquiring an additional 676 shares during the last quarter. Graham Capital Management L.P. purchased a new stake in Praxis Precision Medicines during the 4th quarter valued at approximately $209,000. KLP Kapitalforvaltning AS purchased a new stake in Praxis Precision Medicines during the 4th quarter valued at approximately $215,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Praxis Precision Medicines during the 4th quarter valued at approximately $231,000. 67.84% of the stock is owned by hedge funds and other institutional investors.

About Praxis Precision Medicines

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.