Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Stock Holdings Raised by Baker BROS. Advisors LP

Baker BROS. Advisors LP lifted its stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Free Report) by 2.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 331,533 shares of the company's stock after purchasing an additional 8,428 shares during the period. Baker BROS. Advisors LP owned about 1.78% of Praxis Precision Medicines worth $25,515,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Praxis Precision Medicines during the fourth quarter valued at approximately $48,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Praxis Precision Medicines during the 4th quarter valued at approximately $215,000. Envestnet Asset Management Inc. bought a new position in Praxis Precision Medicines during the fourth quarter worth $231,000. Freestone Grove Partners LP acquired a new position in Praxis Precision Medicines in the fourth quarter worth $237,000. Finally, Fox Run Management L.L.C. bought a new stake in Praxis Precision Medicines during the fourth quarter valued at $246,000. 67.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently issued reports on PRAX shares. Needham & Company LLC restated a "buy" rating and issued a $85.00 price target on shares of Praxis Precision Medicines in a research report on Tuesday, April 8th. Wedbush cut shares of Praxis Precision Medicines from a "hold" rating to a "strong sell" rating in a report on Friday, February 28th. Robert W. Baird lowered their target price on Praxis Precision Medicines from $117.00 to $73.00 and set an "outperform" rating for the company in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft began coverage on Praxis Precision Medicines in a research report on Tuesday, February 11th. They set a "buy" rating and a $111.00 price target on the stock. Finally, 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. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $123.33.

Praxis Precision Medicines Price Performance

Shares of PRAX stock opened at $40.24 on Friday. Praxis Precision Medicines, Inc. has a 12-month low of $26.70 and a 12-month high of $91.83. The firm has a market capitalization of $811.36 million, a price-to-earnings ratio of -3.91 and a beta of 2.66. The business has a 50 day simple moving average of $36.68 and a 200 day simple moving average of $62.07.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.20) by ($0.09). Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. On average, equities analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.

Praxis Precision Medicines 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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