Praxis Precision Medicines (NASDAQ:PRAX – Get Free Report) had its target price raised by investment analysts at Truist Financial from $700.00 to $715.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target would indicate a potential upside of 112.59% from the company’s current price.
PRAX has been the topic of a number of other reports. Wedbush raised their price target on shares of Praxis Precision Medicines from $130.00 to $166.00 and gave the company an “underperform” rating in a report on Friday, May 8th. Piper Sandler reiterated an “overweight” rating and issued a $1,200.00 target price (up from $450.00) on shares of Praxis Precision Medicines in a research note on Wednesday, January 28th. Jefferies Financial Group reiterated a “buy” rating on shares of Praxis Precision Medicines in a research note on Thursday, May 7th. Wolfe Research initiated coverage on shares of Praxis Precision Medicines in a research note on Monday, February 23rd. They issued an “outperform” rating and a $500.00 target price for the company. Finally, BTIG Research reiterated a “buy” rating and issued a $843.00 target price on shares of Praxis Precision Medicines in a research note on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $592.67.
Check Out Our Latest Stock Report on Praxis Precision Medicines
Praxis Precision Medicines Trading Down 2.0%
Praxis Precision Medicines (NASDAQ:PRAX – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported ($3.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($3.58) by $0.38. Equities research analysts forecast that Praxis Precision Medicines will post -15.28 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Praxis Precision Medicines
A number of institutional investors have recently bought and sold shares of the business. Janus Henderson Group PLC raised its position in Praxis Precision Medicines by 17.2% during the 4th quarter. Janus Henderson Group PLC now owns 3,240,086 shares of the company’s stock worth $954,834,000 after buying an additional 476,227 shares during the last quarter. Perceptive Advisors LLC raised its position in Praxis Precision Medicines by 27.6% during the 4th quarter. Perceptive Advisors LLC now owns 1,995,986 shares of the company’s stock worth $588,297,000 after buying an additional 431,432 shares during the last quarter. Adage Capital Partners GP L.L.C. raised its position in Praxis Precision Medicines by 13.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,974,585 shares of the company’s stock worth $83,031,000 after buying an additional 231,827 shares during the last quarter. Vanguard Group Inc. raised its position in Praxis Precision Medicines by 15.3% during the 4th quarter. Vanguard Group Inc. now owns 1,460,933 shares of the company’s stock worth $430,595,000 after buying an additional 193,647 shares during the last quarter. Finally, Orbis Allan Gray Ltd purchased a new position in Praxis Precision Medicines during the 4th quarter worth approximately $369,946,000. 67.84% of the stock is owned by hedge funds and other institutional investors.
Key Praxis Precision Medicines News
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)
Praxis Precision Medicines Company Profile
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.
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