Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Receives $145.20 Average PT from Analysts

Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) has been assigned an average rating of "Moderate Buy" from the ten analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $145.20.

A number of brokerages recently commented on PRAX. Truist Financial boosted their price objective on shares of Praxis Precision Medicines from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Oppenheimer boosted their price objective on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an "outperform" rating in a research note on Thursday, October 31st. Deutsche Bank Aktiengesellschaft assumed coverage on Praxis Precision Medicines in a research report on Tuesday, February 11th. They set a "buy" rating and a $111.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 price target on shares of Praxis Precision Medicines in a research report on Monday, February 10th. Finally, HC Wainwright reaffirmed a "buy" rating and set a $120.00 price target on shares of Praxis Precision Medicines in a research report on Thursday, December 12th.

Praxis Precision Medicines Stock Performance

Praxis Precision Medicines stock opened at $68.39 on Friday. The company has a market capitalization of $1.27 billion, a PE ratio of -6.64 and a beta of 2.65. Praxis Precision Medicines has a fifty-two week low of $33.01 and a fifty-two week high of $91.83. The company has a 50 day moving average price of $77.14 and a 200-day moving average price of $69.66.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Arizona State Retirement System raised its position in shares of Praxis Precision Medicines by 4.2% during the 4th quarter. Arizona State Retirement System now owns 3,851 shares of the company's stock worth $296,000 after purchasing an additional 156 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Praxis Precision Medicines by 2.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,135 shares of the company's stock valued at $856,000 after acquiring an additional 258 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in Praxis Precision Medicines in the 4th quarter valued at about $30,000. JPMorgan Chase & Co. raised its holdings in Praxis Precision Medicines by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,814 shares of the company's stock valued at $450,000 after acquiring an additional 448 shares during the last quarter. Finally, MetLife Investment Management LLC raised its holdings in Praxis Precision Medicines by 5.4% in the 4th quarter. MetLife Investment Management LLC now owns 10,675 shares of the company's stock valued at $822,000 after acquiring an additional 544 shares during the last quarter. Institutional investors and hedge funds own 67.84% of the company's stock.

Praxis Precision Medicines Company Profile

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, engages in the development of therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance. It is developing ulixacaltamide, a small molecule inhibitor of T-type calcium channels that is in Phase III clinical trial for the treatment of essential tremor; PRAX-562 for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEE); and PRAX-628 to treat focal epilepsy.