Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) crossed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $313.82 and traded as high as $335.18. Praxis Precision Medicines shares last traded at $332.97, with a volume of 1,120,108 shares.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on PRAX shares. Needham & Company LLC reissued a "buy" rating and set a $582.00 price target on shares of Praxis Precision Medicines in a research report on Thursday, September 24th. Robert W. Baird set a $514.00 price objective on Praxis Precision Medicines in a report on Friday, August 7th. HC Wainwright reaffirmed a "buy" rating and issued a $1,201.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, October 15th. Piper Sandler reiterated an "overweight" rating on shares of Praxis Precision Medicines in a report on Monday, July 13th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Praxis Precision Medicines in a report on Monday, August 24th. Three investment analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $630.42.
Get Our Latest Stock Report on PRAX
Praxis Precision Medicines Price Performance
The firm has a market capitalization of $9.30 billion, a price-to-earnings ratio of -25.75 and a beta of 2.85. The business's 50-day moving average price is $291.50 and its 200 day moving average price is $313.82.
Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its quarterly earnings data on Monday, November 9th. The company reported ($3.23) EPS for the quarter, topping analysts' consensus estimates of ($3.54) by $0.31. As a group, sell-side analysts expect that Praxis Precision Medicines, Inc. will post -14.15 earnings per share for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of PRAX. Janus Henderson Group PLC raised its position in shares of Praxis Precision Medicines by 6.8% in the 1st quarter. Janus Henderson Group PLC now owns 3,458,863 shares of the company's stock valued at $1,113,514,000 after purchasing an additional 218,777 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in Praxis Precision Medicines in the second quarter valued at $28,583,000. Orbimed Advisors LLC raised its holdings in Praxis Precision Medicines by 82.5% in the first quarter. Orbimed Advisors LLC now owns 172,500 shares of the company's stock valued at $55,578,000 after acquiring an additional 78,000 shares in the last quarter. Aberdeen Group plc raised its holdings in Praxis Precision Medicines by 28.2% in the third quarter. Aberdeen Group plc now owns 213,400 shares of the company's stock valued at $62,148,000 after acquiring an additional 47,001 shares in the last quarter. Finally, California Public Employees Retirement System acquired a new position in Praxis Precision Medicines during the 1st quarter worth $13,584,000. Institutional investors and hedge funds own 67.84% of the company's stock.
About Praxis Precision Medicines
(
Get Free Report)
Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on developing treatments for neurological and psychiatric disorders. The company applies neuroscience and precision-medicine research to conditions involving abnormalities in brain circuits and neuronal activity.
Its investigational programs have included small-molecule therapies for disorders such as essential tremor and epilepsy, as well as genetic-medicine approaches for certain rare neurological conditions.
Further Reading
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