Praxis Precision Medicines (NASDAQ:PRAX) Given New $575.00 Price Target at Needham & Company LLC

Posted by Francis Steltz on Jun 29th, 2026

Praxis Precision Medicines (NASDAQ:PRAX – Get Free Report) had its target price raised by investment analysts at Needham & Company LLC from $537.00 to $575.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 75.42% from the stock’s previous close.

Several other research firms have also recently commented on PRAX. Wedbush dropped 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 report on Tuesday, June 2nd. Jefferies Financial Group reaffirmed a “buy” rating on shares of Praxis Precision Medicines in a report on Thursday, May 7th. BTIG Research reiterated a “buy” rating and issued a $810.00 price target (down from $843.00) on shares of Praxis Precision Medicines in a research report on Tuesday, June 2nd. 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. Finally, HC Wainwright decreased their price target on shares of Praxis Precision Medicines from $1,245.00 to $1,201.00 and set a “buy” rating on the stock in a report on Tuesday, June 2nd. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $569.63.

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Praxis Precision Medicines Stock Performance

Praxis Precision Medicines stock opened at $327.79 on Monday. Praxis Precision Medicines has a 1-year low of $37.19 and a 1-year high of $366.52. The firm has a market capitalization of $9.14 billion, a price-to-earnings ratio of -24.52 and a beta of 2.71. The firm’s fifty day moving average price is $314.02 and its two-hundred day moving average price is $307.77.

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 (EPS) for the quarter, beating analysts’ consensus estimates of ($3.58) by $0.38. On average, research analysts forecast that Praxis Precision Medicines will post -14.79 EPS for the current year.

Insider Activity at Praxis Precision Medicines

In related news, Director Jill Desimone sold 11,600 shares of Praxis Precision Medicines stock in a transaction on Wednesday, June 24th. The shares were sold at an average price of $311.32, for a total value of $3,611,312.00. Following the transaction, the director owned 2,337 shares in the company, valued at $727,554.84. This trade represents a 83.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.00% of the company’s stock.

Hedge Funds Weigh In On Praxis Precision Medicines

A number of large investors have recently bought and sold shares of PRAX. Parallel Advisors LLC grew its holdings in shares of Praxis Precision Medicines by 3,000.0% in the first quarter. Parallel Advisors LLC now owns 124 shares of the company’s stock worth $40,000 after purchasing an additional 120 shares during the last quarter. Perceptive Advisors LLC grew its holdings in Praxis Precision Medicines by 2.0% in the 1st quarter. Perceptive Advisors LLC now owns 2,035,986 shares of the company’s stock worth $655,974,000 after acquiring an additional 40,000 shares during the last quarter. CTC Alternative Strategies Ltd. purchased a new position in shares of Praxis Precision Medicines in the first quarter valued at about $298,000. Vivo Capital LLC increased its position in shares of Praxis Precision Medicines by 3.0% in the first quarter. Vivo Capital LLC now owns 338,895 shares of the company’s stock valued at $109,189,000 after acquiring an additional 10,000 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Praxis Precision Medicines by 2.3% during the first quarter. Bank of America Corp DE now owns 534,604 shares of the company’s stock valued at $172,244,000 after acquiring an additional 11,841 shares during the last quarter. 67.84% of the stock is owned by hedge funds and other institutional investors.

Praxis Precision Medicines Company Profile

(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.