Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX - Get Free Report) have been assigned an average rating of "Moderate Buy" from the nine analysts that are currently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $146.33.

Several equities analysts have recently commented on PRAX shares. 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, November 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $151.00 target price on shares of Praxis Precision Medicines in a report on Thursday, November 7th. Oppenheimer boosted their price target on Praxis Precision Medicines from $143.00 to $163.00 and gave the company an "outperform" rating in a report on Thursday, October 31st. Guggenheim raised their price objective on Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a "buy" rating in a research note on Wednesday, August 14th. Finally, Wedbush lifted their price objective on shares of Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a "neutral" rating in a report on Wednesday, August 14th.

Praxis Precision Medicines Stock Performance

Praxis Precision Medicines stock traded up $3.34 during trading on Tuesday, reaching $69.90. 167,892 shares of the company's stock were exchanged, compared to its average volume of 282,913. The company's 50-day moving average is $71.92 and its two-hundred day moving average is $57.99. Praxis Precision Medicines has a 52-week low of $14.77 and a 52-week high of $86.93. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of -6.88 and a beta of 2.67.

Praxis Precision Medicines (NASDAQ:PRAX - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported ($2.75) EPS for the quarter, missing analysts' consensus estimates of ($2.01) by ($0.74). Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. The firm had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.53 million. During the same quarter in the prior year, the firm earned ($2.70) EPS. Analysts anticipate that Praxis Precision Medicines will post -10.26 EPS for the current year.

Insider Transactions at Praxis Precision Medicines

In other Praxis Precision Medicines news, General Counsel Alex Nemiroff sold 8,239 shares of the business's stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $80.20, for a total transaction of $660,767.80. Following the completion of the transaction, the general counsel now owns 10,301 shares in the company, valued at approximately $826,140.20. The trade was a 44.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Lauren Mastrocola sold 5,188 shares of the stock in a transaction on Thursday, November 14th. The stock was sold at an average price of $81.78, for a total value of $424,274.64. Following the completion of the transaction, the insider now directly owns 5,613 shares of the company's stock, valued at approximately $459,031.14. The trade was a 48.03 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.70% of the company's stock.

Institutional Investors Weigh In On Praxis Precision Medicines

Institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. increased its stake in Praxis Precision Medicines by 85.6% during the 3rd quarter. Franklin Resources Inc. now owns 445,233 shares of the company's stock valued at $25,619,000 after buying an additional 205,335 shares during the period. Baker BROS. Advisors LP boosted its holdings in shares of Praxis Precision Medicines by 145.6% in the third quarter. Baker BROS. Advisors LP now owns 323,105 shares of the company's stock valued at $18,591,000 after acquiring an additional 191,572 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Praxis Precision Medicines by 326.9% during the third quarter. Wellington Management Group LLP now owns 219,907 shares of the company's stock valued at $12,653,000 after acquiring an additional 168,394 shares during the period. Janus Henderson Group PLC raised its holdings in Praxis Precision Medicines by 37.2% during the third quarter. Janus Henderson Group PLC now owns 523,566 shares of the company's stock worth $30,079,000 after purchasing an additional 141,881 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Praxis Precision Medicines by 105.2% in the second quarter. Marshall Wace LLP now owns 248,381 shares of the company's stock worth $10,273,000 after purchasing an additional 127,357 shares during the period. Institutional investors and hedge funds own 67.84% of the company's stock.

About Praxis Precision Medicines

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.