Praxis Precision Medicines (NASDAQ:PRAX – Get Free Report)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a report issued on Thursday, Benzinga reports. They presently have a $582.00 price target on the stock. Needham & Company LLC’s target price would indicate a potential upside of 106.97% from the company’s previous close.
Several other equities analysts have also recently issued reports on the company. Wedbush reduced their price objective on Praxis Precision Medicines from $166.00 to $162.00 and set an “underperform” rating for the company in a report on Tuesday, June 2nd. Piper Sandler reaffirmed an “overweight” rating on shares of Praxis Precision Medicines in a report on Monday, July 13th. Wall Street Zen raised Praxis Precision Medicines from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. HC Wainwright reissued a “buy” rating and issued a $1,201.00 price target on shares of Praxis Precision Medicines in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $374.00 price target (down from $420.00) on shares of Praxis Precision Medicines in a report on Tuesday, June 2nd. Three investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $612.42.
Check Out Our Latest Stock Report on PRAX
Praxis Precision Medicines Stock Performance
Praxis Precision Medicines (NASDAQ:PRAX – Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($2.87) earnings per share (EPS) for the quarter, topping the consensus estimate of ($3.67) by $0.80. Research analysts anticipate that Praxis Precision Medicines will post -13.92 EPS for the current year.
Institutional Investors Weigh In On Praxis Precision Medicines
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC raised its stake in Praxis Precision Medicines by 10.3% during the second quarter. GAMMA Investing LLC now owns 332 shares of the company’s stock valued at $111,000 after buying an additional 31 shares in the last quarter. KBC Group NV boosted its stake in Praxis Precision Medicines by 5.8% during the 1st quarter. KBC Group NV now owns 715 shares of the company’s stock valued at $230,000 after purchasing an additional 39 shares in the last quarter. Carl P. Sherr & Co. LLC boosted its stake in Praxis Precision Medicines by 8.4% during the 1st quarter. Carl P. Sherr & Co. LLC now owns 972 shares of the company’s stock valued at $313,000 after purchasing an additional 75 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in Praxis Precision Medicines during the 2nd quarter valued at $38,000. Finally, Parallel Advisors LLC boosted its stake in Praxis Precision Medicines by 3,000.0% during the 1st quarter. Parallel Advisors LLC now owns 124 shares of the company’s stock valued at $40,000 after purchasing an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 67.84% of the company’s stock.
Praxis Precision Medicines Company Profile
Praxis Precision Medicines, Inc (NASDAQ: PRAX) is a biotechnology company focused on developing treatments for central nervous system disorders, including epilepsy, movement disorders and other neurological conditions. The company uses its Precision Genetic Medicine platform, which combines human genetics, functional genomics and neuroscience research to identify disease mechanisms and potential therapeutic targets.
Praxis’ pipeline has included investigational medicines such as ulixacaltamide, a treatment candidate being developed for essential tremor, and elsunersen, an antisense oligonucleotide designed for certain severe genetic epilepsies.
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