Praxis Precision Medicines (NASDAQ:PRAX) Given New $715.00 Price Target at Truist Financial

Key Points

• Truist Financial raised its price target on Praxis Precision Medicines to $715 from $700 and kept a Buy rating, implying roughly 112.6% upside from the prior close.
• The stock has drawn generally bullish analyst coverage overall, with multiple firms maintaining buy ratings and a consensus target price of $592.67, though views remain mixed with some hold and sell calls.
• Praxis shares fell 2.0% to $336.33 despite reporting quarterly EPS of ($3.20), which beat estimates, while recent commentary highlights both commercialization promise and ongoing execution risks.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) had its price target upped by equities researchers at Truist Financial from $700.00 to $715.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Truist Financial's target price suggests a potential upside of 112.59% from the company's previous close.

PRAX has been the topic of a number of other reports. HC Wainwright restated a "buy" rating and issued a $1,245.00 price target on shares of Praxis Precision Medicines in a report on Tuesday, April 7th. Deutsche Bank Aktiengesellschaft set a $420.00 price target on shares of Praxis Precision Medicines in a report on Friday. Jefferies Financial Group restated a "buy" rating on shares of Praxis Precision Medicines in a report on Thursday, May 7th. Wolfe Research began coverage on shares of Praxis Precision Medicines in a report on Monday, February 23rd. They issued an "outperform" rating and a $500.00 price target on the stock. Finally, Guggenheim restated a "buy" rating and issued a $800.00 price target (up from $760.00) on shares of Praxis Precision Medicines in a report on Tuesday, February 10th. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $592.67.

Praxis Precision Medicines Trading Down 2.0%

Shares of NASDAQ PRAX traded down $6.87 during mid-day trading on Wednesday, reaching $336.33. The company had a trading volume of 136,878 shares, compared to its average volume of 459,644. The business's 50-day moving average is $317.39 and its 200-day moving average is $280.77. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of -25.18 and a beta of 2.76. Praxis Precision Medicines has a 52 week low of $35.21 and a 52 week high of $358.76.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($3.20) EPS for the quarter, topping analysts' consensus estimates of ($3.58) by $0.38. As a group, equities research analysts forecast that Praxis Precision Medicines will post -15.28 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PRAX. Orbis Allan Gray Ltd bought a new position in Praxis Precision Medicines during the 4th quarter worth about $369,946,000. Janus Henderson Group PLC boosted its holdings in shares of Praxis Precision Medicines by 17.2% in the 4th quarter. Janus Henderson Group PLC now owns 3,240,086 shares of the company's stock valued at $954,834,000 after buying an additional 476,227 shares in the last quarter. Barclays PLC boosted its holdings in shares of Praxis Precision Medicines by 592.6% in the 4th quarter. Barclays PLC now owns 530,751 shares of the company's stock valued at $156,434,000 after buying an additional 454,114 shares in the last quarter. Baker BROS. Advisors LP boosted its holdings in shares of Praxis Precision Medicines by 63.4% in the 4th quarter. Baker BROS. Advisors LP now owns 1,126,488 shares of the company's stock valued at $332,021,000 after buying an additional 437,000 shares in the last quarter. Finally, Perceptive Advisors LLC boosted its holdings in shares of Praxis Precision Medicines by 27.6% in the 4th quarter. Perceptive Advisors LLC now owns 1,995,986 shares of the company's stock valued at $588,297,000 after buying an additional 431,432 shares in the last quarter. 67.84% of the stock is currently owned by institutional investors.

Praxis Precision Medicines News Roundup

Here are the key news stories impacting Praxis Precision Medicines this week:

• Positive Sentiment: HC Wainwright kept a Buy rating and a $1,245 price target, while also nudging up its FY2027, FY2028, and FY2029 earnings estimates, signaling long-term confidence in the company’s launch and commercialization potential.
• Positive Sentiment: Praxis also presented at the Bank of America Global Healthcare Conference 2026, which can help keep the stock on investors’ radar and reinforce its pipeline story. Praxis Precision Medicines, Inc. (PRAX) Presents at Bank of America Global Healthcare Conference 2026 Prepared Remarks Transcript
• Neutral Sentiment: The company’s recent earnings-call coverage highlighted a “high-stakes launch path”, suggesting that investors are still waiting for clearer execution on the commercial rollout. Praxis Precision Medicines Maps High-Stakes Launch Path
• Negative Sentiment: Both Lifesci Capital and HC Wainwright lowered near-term EPS forecasts for Q2, Q3, Q4, and FY2026, indicating continued expected losses and softer near-term earnings visibility.
• Negative Sentiment: Wedbush reportedly maintained an Underperform rating and cited concerns around the ulixacaltamide filing, adding to investor caution around execution risk. Wedbush Maintained an Underperform Rating on Praxis Precision Medicines, Inc. (PRAX)

About Praxis Precision Medicines

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing precision therapies for disorders driven by neuronal excitability. The company applies translational neuroscience and genetic insights to design small molecule drugs that target specific ion channels and receptor subtypes implicated in neurological and psychiatric conditions. Its research aims to address unmet needs in rare epilepsies, essential tremor, treatment-resistant depression and other central nervous system (CNS) disorders.

The company's pipeline includes several lead candidates at various stages of development.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.