Brokerages Set Praxis Precision Medicines, Inc. (NASDAQ:PRAX) PT at $146.33

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) have received a consensus rating of “Moderate Buy” from the nine research firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $146.33.

PRAX has been the topic of a number of research reports. HC Wainwright restated a “buy” rating and issued a $120.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, December 12th. Needham & Company LLC restated a “buy” rating and set a $151.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, November 7th. Finally, Oppenheimer lifted their price objective on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st.

Insider Buying and Selling at Praxis Precision Medicines

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

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Point72 Asset Management L.P. grew its stake in Praxis Precision Medicines by 10.2% in the 2nd quarter. Point72 Asset Management L.P. now owns 1,051,701 shares of the company’s stock worth $43,498,000 after buying an additional 97,561 shares in the last quarter. Janus Henderson Group PLC grew its position in Praxis Precision Medicines by 37.2% in the third quarter. Janus Henderson Group PLC now owns 523,566 shares of the company’s stock worth $30,079,000 after acquiring an additional 141,881 shares in the last quarter. Franklin Resources Inc. increased its stake in Praxis Precision Medicines by 85.6% in the third quarter. Franklin Resources Inc. now owns 445,233 shares of the company’s stock valued at $25,619,000 after acquiring an additional 205,335 shares during the last quarter. Geode Capital Management LLC raised its position in Praxis Precision Medicines by 1.0% during the third quarter. Geode Capital Management LLC now owns 398,838 shares of the company’s stock valued at $22,954,000 after purchasing an additional 3,779 shares in the last quarter. Finally, Baker BROS. Advisors LP lifted its stake in Praxis Precision Medicines by 145.6% during the third quarter. Baker BROS. Advisors LP now owns 323,105 shares of the company’s stock worth $18,591,000 after purchasing an additional 191,572 shares during the last quarter. 67.84% of the stock is currently owned by institutional investors.

Praxis Precision Medicines Stock Down 14.3 %

PRAX opened at $63.15 on Friday. Praxis Precision Medicines has a twelve month low of $33.01 and a twelve month high of $86.93. The company’s 50-day moving average price is $74.98 and its two-hundred day moving average price is $63.21. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -6.13 and a beta of 2.66.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($2.75) earnings per share for the quarter, missing the consensus estimate of ($2.01) by ($0.74). The firm had revenue of $0.30 million for the quarter, compared to the consensus estimate of $0.53 million. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. During the same period last year, the company posted ($2.70) earnings per share. As a group, sell-side analysts anticipate that Praxis Precision Medicines will post -10.26 earnings per share for the current year.

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.