Oppenheimer Increases Praxis Precision Medicines (NASDAQ:PRAX) Price Target to $115.00

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

A number of other equities research analysts also recently commented on 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 Thursday, June 12th. 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. Chardan Capital began coverage on Praxis Precision Medicines in a research report on Wednesday, May 7th. They issued a "buy" rating and a $80.00 target price on the stock. Finally, Wedbush lifted their target price on Praxis Precision Medicines from $26.00 to $28.00 and gave the company an "underperform" rating in a research report on Monday, May 5th. One investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $94.11.

Praxis Precision Medicines Trading Up 0.2%

NASDAQ PRAX traded up $0.08 on Tuesday, reaching $46.76. 395,323 shares of the company were exchanged, compared to its average volume of 366,844. The business's fifty day moving average price is $41.09 and its 200 day moving average price is $51.47. The stock has a market capitalization of $952.50 million, a P/E ratio of -4.36 and a beta of 2.60. Praxis Precision Medicines has a fifty-two week low of $26.70 and a fifty-two week high of $91.83.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last released its quarterly earnings data 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%. Equities research analysts forecast that Praxis Precision Medicines will post -10.22 earnings per share for the current year.

Institutional Investors Weigh In On Praxis Precision Medicines

Institutional investors and hedge funds have recently modified their holdings of the company. Arizona State Retirement System grew its stake in Praxis Precision Medicines by 4.2% during the 4th quarter. Arizona State Retirement System now owns 3,851 shares of the company's stock worth $296,000 after purchasing an additional 156 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Praxis Precision Medicines by 2.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,135 shares of the company's stock worth $856,000 after purchasing an additional 258 shares in the last quarter. California State Teachers Retirement System grew its stake in Praxis Precision Medicines by 2.2% during the 4th quarter. California State Teachers Retirement System now owns 12,726 shares of the company's stock worth $979,000 after purchasing an additional 275 shares in the last quarter. GF Fund Management CO. LTD. acquired a new position in Praxis Precision Medicines during the 4th quarter worth $30,000. Finally, MetLife Investment Management LLC grew its stake in Praxis Precision Medicines by 5.4% during the 4th quarter. MetLife Investment Management LLC now owns 10,675 shares of the company's stock worth $822,000 after purchasing an additional 544 shares in the last quarter. Hedge funds and other institutional investors own 67.84% of the company's stock.

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.