Brokerages Set Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Target Price at $145.20

Shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) have earned an average recommendation of “Moderate Buy” from the ten ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $145.20.

A number of research analysts have recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and set a $150.00 price target on shares of Praxis Precision Medicines in a research note on Monday, February 10th. Deutsche Bank Aktiengesellschaft began coverage on Praxis Precision Medicines in a research note on Tuesday, February 11th. They set a “buy” rating and a $111.00 price target on the stock. Truist Financial upped their price target on Praxis Precision Medicines from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Oppenheimer upped their target price on Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $120.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, December 12th.

Praxis Precision Medicines Trading Up 0.3 %

Praxis Precision Medicines stock opened at $66.89 on Friday. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -6.49 and a beta of 2.65. The stock has a 50 day moving average of $77.18 and a two-hundred day moving average of $69.67. Praxis Precision Medicines has a twelve month low of $33.01 and a twelve month high of $91.83.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRAX. Price T Rowe Associates Inc. MD raised its position in shares of Praxis Precision Medicines by 7.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,208,522 shares of the company’s stock valued at $93,008,000 after buying an additional 88,442 shares during the last quarter. Vanguard Group Inc. raised its holdings in Praxis Precision Medicines by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 1,063,639 shares of the company’s stock valued at $81,858,000 after acquiring an additional 24,645 shares during the last quarter. VR Adviser LLC raised its holdings in Praxis Precision Medicines by 40.2% in the 4th quarter. VR Adviser LLC now owns 989,985 shares of the company’s stock valued at $76,189,000 after acquiring an additional 283,854 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Praxis Precision Medicines by 77.5% during the 4th quarter. Janus Henderson Group PLC now owns 929,523 shares of the company’s stock worth $71,621,000 after purchasing an additional 405,957 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Praxis Precision Medicines by 5,437.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 559,082 shares of the company’s stock worth $43,027,000 after purchasing an additional 548,986 shares during the last quarter. 67.84% of the stock is currently owned by hedge funds and other institutional investors.

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.