Praxis Precision Medicines (NASDAQ:PRAX) Shares Up 6.2% – Still a Buy?

Posted by Brian Himes on Jun 3rd, 2026

Praxis Precision Medicines, Inc. (NASDAQ:PRAX – Get Free Report)’s share price shot up 6.2% during mid-day trading on Wednesday . The company traded as high as $275.34 and last traded at $273.96. 204,249 shares changed hands during trading, a decline of 55% from the average session volume of 452,172 shares. The stock had previously closed at $258.08.

Praxis Precision Medicines News Summary

Here are the key news stories impacting Praxis Precision Medicines this week:

Positive Sentiment: HC Wainwright trimmed its FY2030 EPS estimate but kept a Buy rating and a very bullish $1,201 price target, signaling long-term optimism even after the recent selloff. MarketBeat PRAX article
Neutral Sentiment: The company announced inducement stock grants to attract new employees, a routine hiring-related update that is unlikely to materially affect near-term fundamentals. Inducement Grants article
Negative Sentiment: Praxis reported that its Phase 2/3 POWER1 study of vormatrigine for focal onset seizures missed its primary endpoint, prompting the company to pause enrollment in the related POWER2 trial and reassess the program. Vormatrigine Program Update article
Negative Sentiment: Multiple reports highlighted the trial miss and the stock’s post-announcement decline, reinforcing investor concerns about the company’s epilepsy pipeline and clinical execution risk. Reuters article

Analysts Set New Price Targets

PRAX has been the topic of several recent analyst reports. HC Wainwright reduced their target price on shares of Praxis Precision Medicines from $1,245.00 to $1,201.00 and set a “buy” rating on the stock in a research note on Tuesday. Wedbush reduced their target price on shares of Praxis Precision Medicines from $166.00 to $162.00 and set an “underperform” rating on the stock in a research note on Tuesday. 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 on the stock. Robert W. Baird reduced their target price on shares of Praxis Precision Medicines from $433.00 to $400.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Praxis Precision Medicines in a research note on Thursday, May 7th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $572.72.

Get Our Latest Stock Report on Praxis Precision Medicines

Praxis Precision Medicines Trading Up 5.1%

The company has a market cap of $7.56 billion, a PE ratio of -20.29 and a beta of 2.71. The company’s 50 day moving average is $327.22 and its 200 day moving average is $296.62.

Praxis Precision Medicines (NASDAQ:PRAX – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($3.20) EPS for the quarter, topping the consensus estimate of ($3.58) by $0.38. Analysts expect that Praxis Precision Medicines, Inc. will post -14.79 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its holdings in Praxis Precision Medicines by 3,000.0% during the 1st quarter. Parallel Advisors LLC now owns 124 shares of the company’s stock worth $40,000 after acquiring an additional 120 shares in the last quarter. NBC Securities Inc. bought a new position in Praxis Precision Medicines during the 4th quarter worth about $38,000. Danske Bank A S bought a new position in Praxis Precision Medicines during the 4th quarter worth about $59,000. GAMMA Investing LLC grew its holdings in Praxis Precision Medicines by 58.7% during the 4th quarter. GAMMA Investing LLC now owns 238 shares of the company’s stock worth $70,000 after acquiring an additional 88 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Praxis Precision Medicines by 60.0% during the 4th quarter. Farther Finance Advisors LLC now owns 368 shares of the company’s stock worth $108,000 after acquiring an additional 138 shares in the last quarter. 67.84% of the stock is currently owned by institutional investors.

About Praxis Precision Medicines

(Get Free Report)

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.