Praxis Precision Medicines (NASDAQ:PRAX) Stock Price Expected to Rise, Oppenheimer Analyst Says

Praxis Precision Medicines (NASDAQ:PRAX - Free Report) had its price target boosted by Oppenheimer from $97.00 to $115.00 in a research report report published on Tuesday,Benzinga reports. They currently have an outperform rating on the stock.

A number of other brokerages also recently issued reports on PRAX. HC Wainwright reaffirmed a "buy" rating and issued a $105.00 price target on shares of Praxis Precision Medicines in a report on Thursday, May 1st. Wedbush upped their price target on Praxis Precision Medicines from $26.00 to $28.00 and gave the company an "underperform" rating in a report on Monday, May 5th. Chardan Capital initiated coverage on Praxis Precision Medicines in a report on Wednesday, May 7th. They issued a "buy" rating and a $80.00 price target for the company. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $80.00 price target on shares of Praxis Precision Medicines in a report on Thursday, June 12th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $94.11.

Praxis Precision Medicines Stock Up 8.2%

NASDAQ PRAX traded up $3.82 during trading on Tuesday, hitting $50.58. The stock had a trading volume of 691,864 shares, compared to its average volume of 368,534. The company has a market capitalization of $1.03 billion, a PE ratio of -4.72 and a beta of 2.60. The firm has a 50 day moving average price of $41.09 and a 200 day moving average price of $51.47. 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 released its earnings results 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 return on equity of 50.42% and a negative net margin of 2,137.48%. On average, sell-side analysts anticipate that Praxis Precision Medicines will post -10.22 earnings per share for the current year.

Institutional Trading of Praxis Precision Medicines

Hedge funds and other institutional investors have recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new stake in shares of Praxis Precision Medicines during the fourth quarter worth $30,000. GAMMA Investing LLC raised its position in shares of Praxis Precision Medicines by 6,075.4% during the first quarter. GAMMA Investing LLC now owns 4,014 shares of the company's stock worth $152,000 after purchasing an additional 3,949 shares during the period. Graham Capital Management L.P. acquired a new stake in shares of Praxis Precision Medicines during the fourth quarter worth $209,000. KLP Kapitalforvaltning AS purchased a new position in shares of Praxis Precision Medicines during the fourth quarter valued at $215,000. Finally, Envestnet Asset Management Inc. purchased a new position in shares of Praxis Precision Medicines during the fourth quarter valued at $231,000. Institutional investors own 67.84% of the company's stock.

Praxis Precision Medicines Company 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.