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Praxis Precision Medicines (PRAX) Stock Forecast & Price Target

$58.21
+1.08 (+1.89%)
(As of 07/23/2024 ET)

Praxis Precision Medicines - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Based on 8 Wall Street analysts who have issued ratings for Praxis Precision Medicines in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 8 analysts, 1 has given a hold rating, and 7 have given a buy rating for PRAX.

Consensus Price Target

$137.38
136.00% Upside
High Forecast$270.00
Average Forecast$137.38
Low Forecast$29.00

According to the 8 analysts' twelve-month price targets for Praxis Precision Medicines, the average price target is $137.38. The highest price target for PRAX is $270.00, while the lowest price target for PRAX is $29.00. The average price target represents a forecasted upside of 136.00% from the current price of $58.21.

TypeCurrent Forecast
7/24/23 to 7/23/24
1 Month Ago
6/24/23 to 6/23/24
3 Months Ago
4/25/23 to 4/24/24
1 Year Ago
7/24/22 to 7/24/23
Consensus Rating
Moderate Buy
Moderate Buy
Moderate Buy
Moderate Buy
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
7 Buy rating(s)
5 Buy rating(s)
3 Buy rating(s)
2 Buy rating(s)
Hold
1 Hold rating(s)
1 Hold rating(s)
1 Hold rating(s)
1 Hold rating(s)
Sell
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
Consensus Price Target$137.38$114.00$103.00$225.00
Forecasted Upside136.00% Upside141.07% Upside131.69% Upside1,321.80% Upside
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PRAX Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
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PRAX Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
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Praxis Precision Medicines Stock vs. The Competition

TypePraxis Precision MedicinesMedical CompaniesS&P 500
Consensus Rating Score
2.88
2.72
2.51
Consensus RatingModerate BuyModerate BuyModerate Buy
Predicted Upside136.00% Upside3,059.07% Upside9.72% Upside
News Sentiment RatingNeutral News
Positive News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
7/1/2024Piper Sandler
2 of 5 stars
 Reiterated RatingOverweight ➝ Overweight$270.00 ➝ $270.00+558.54%
6/24/2024Needham & Company LLC
3 of 5 stars
A. Fadia
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Initiated CoverageBuy$145.00+247.72%
6/18/2024Guggenheim
3 of 5 stars
Y. Suneja
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Initiated CoverageBuy$155.00+324.08%
5/16/2024Truist Financial
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 Reiterated RatingBuy ➝ Buy$150.00 ➝ $150.00+233.48%
5/14/2024HC Wainwright
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 Reiterated RatingBuy ➝ Buy$105.00+132.35%
5/1/2024Robert W. Baird
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 Initiated CoverageOutperform$117.00+113.23%
3/26/2024Jefferies Financial Group
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 Boost TargetBuy ➝ Buy$75.00 ➝ $128.00+118.24%
1/12/2024Wedbush
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 Boost TargetNeutral ➝ Neutral$16.00 ➝ $29.00-33.32%
3/3/2023William Blair
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M. Minter
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DowngradeOutperform ➝ Market Perform

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Tuesday at 11:10 PM ET.

PRAX Forecast - Frequently Asked Questions

What is Praxis Precision Medicines' forecast for 2024?

According to the research reports of 8 Wall Street equities research analysts, the average twelve-month stock price forecast for Praxis Precision Medicines is $137.38, with a high forecast of $270.00 and a low forecast of $29.00.

Should I buy or sell Praxis Precision Medicines stock right now?

8 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Praxis Precision Medicines in the last twelve months. There is currently 1 hold rating and 7 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" PRAX shares.

Does Praxis Precision Medicines's stock price have much upside?

According to analysts, Praxis Precision Medicines's stock has a predicted upside of 199.92% based on their 12-month stock forecasts.

What analysts cover Praxis Precision Medicines?

Praxis Precision Medicines has been rated by research analysts at Guggenheim, HC Wainwright, Needham & Company LLC, Piper Sandler, Robert W. Baird, and Truist Financial in the past 90 days.

Do Wall Street analysts like Praxis Precision Medicines more than its competitors?

Analysts like Praxis Precision Medicines more than other "medical" companies. The consensus rating score for Praxis Precision Medicines is 2.88 while the average consensus rating score for "medical" companies is 2.72. Learn more on how PRAX compares to other companies.


This page (NASDAQ:PRAX) was last updated on 7/23/2024 by MarketBeat.com Staff

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