Analysts Set Praxis Precision Medicines, Inc. (NASDAQ:PRAX) PT at $109.90

Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) has received an average rating of "Moderate Buy" from the ten analysts that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $109.90.

A number of research analysts recently commented on the company. Truist Financial lowered their price objective on Praxis Precision Medicines from $175.00 to $85.00 and set a "buy" rating for the company in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Praxis Precision Medicines in a research report on Tuesday, February 11th. They set a "buy" rating and a $111.00 price target for the company. Needham & Company LLC restated a "buy" rating and issued a $80.00 target price on shares of Praxis Precision Medicines in a research report on Monday, May 5th. Robert W. Baird decreased their target price on shares of Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating for the company in a research report on Monday, March 3rd. Finally, HC Wainwright restated a "buy" rating and issued a $105.00 target price on shares of Praxis Precision Medicines in a research report on Thursday, May 1st.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. GF Fund Management CO. LTD. bought a new position in shares of Praxis Precision Medicines in the fourth quarter valued at approximately $30,000. Mirae Asset Global Investments Co. Ltd. bought a new position in Praxis Precision Medicines during the 4th quarter valued at $48,000. Graham Capital Management L.P. bought a new position in Praxis Precision Medicines during the 4th quarter valued at $209,000. KLP Kapitalforvaltning AS bought a new position in Praxis Precision Medicines during the 4th quarter valued at $215,000. Finally, Envestnet Asset Management Inc. bought a new position in Praxis Precision Medicines during the 4th quarter valued at $231,000. 67.84% of the stock is currently owned by institutional investors.

Praxis Precision Medicines Price Performance

Shares of NASDAQ:PRAX traded up $2.30 during trading on Tuesday, reaching $44.56. 443,608 shares of the company's stock traded hands, compared to its average volume of 389,600. Praxis Precision Medicines has a 12 month low of $26.70 and a 12 month high of $91.83. The company has a 50 day moving average of $35.85 and a 200-day moving average of $56.27. The stock has a market capitalization of $907.64 million, a P/E ratio of -4.33 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) EPS for the quarter, missing the consensus estimate of ($3.20) by ($0.09). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. Equities research analysts predict that Praxis Precision Medicines will post -10.22 earnings per share for the current fiscal year.

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.