Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) has been assigned a $97.00 price objective by research analysts at Oppenheimer in a research report issued to clients and investors on Monday, Marketbeat reports. The firm presently has an "outperform" rating on the stock. Oppenheimer's price objective suggests a potential upside of 113.37% from the company's previous close.
PRAX has been the subject of several other reports. Wedbush upped their price objective on Praxis Precision Medicines from $26.00 to $28.00 and gave the stock an "underperform" rating in a research report on Monday, May 5th. Chardan Capital started coverage on Praxis Precision Medicines in a research note on Wednesday, May 7th. They set a "buy" rating and a $80.00 target price for the company. Truist Financial dropped their price target on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. 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. Finally, Needham & Company LLC restated a "buy" rating and issued a $80.00 target price on shares of Praxis Precision Medicines in a report on Monday, May 5th. One analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Praxis Precision Medicines currently has a consensus rating of "Moderate Buy" and a consensus price target of $109.90.
Get Our Latest Stock Report on PRAX
Praxis Precision Medicines Stock Performance
Shares of PRAX stock traded up $3.20 on Monday, hitting $45.46. 101,178 shares of the stock traded hands, compared to its average volume of 387,903. The stock has a market capitalization of $925.97 million, a PE ratio of -4.41 and a beta of 2.60. The firm's 50-day moving average price is $35.85 and its two-hundred day moving average price is $56.27. Praxis Precision Medicines has a twelve month low of $26.70 and a twelve month high of $91.83.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 research analysts anticipate that Praxis Precision Medicines will post -10.22 EPS for the current fiscal year.
Institutional Trading of Praxis Precision Medicines
Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers increased its stake in Praxis Precision Medicines by 6.7% during the first quarter. Rhumbline Advisers now owns 24,294 shares of the company's stock valued at $920,000 after purchasing an additional 1,525 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Praxis Precision Medicines by 367.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,081 shares of the company's stock valued at $3,298,000 after acquiring an additional 68,466 shares during the period. Woodline Partners LP grew its holdings in shares of Praxis Precision Medicines by 1,666.5% during the first quarter. Woodline Partners LP now owns 175,727 shares of the company's stock valued at $6,655,000 after purchasing an additional 165,779 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Praxis Precision Medicines by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,708 shares of the company's stock worth $444,000 after purchasing an additional 573 shares during the period. Finally, Cormorant Asset Management LP raised its position in shares of Praxis Precision Medicines by 3.1% during the 1st quarter. Cormorant Asset Management LP now owns 1,745,000 shares of the company's stock worth $66,083,000 after purchasing an additional 51,781 shares during the period. 67.84% of the stock is owned by institutional investors.
Praxis Precision Medicines Company Profile
(
Get Free Report)
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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