HC Wainwright Reaffirms “Buy” Rating for Praxis Precision Medicines (NASDAQ:PRAX)

Praxis Precision Medicines (NASDAQ:PRAX)‘s stock had its “buy” rating reissued by HC Wainwright in a note issued to investors on Friday,Benzinga reports. They presently have a $105.00 price objective on the stock. HC Wainwright’s price target would suggest a potential upside of 94.99% from the company’s previous close. HC Wainwright also issued estimates for Praxis Precision Medicines’ Q1 2026 earnings at ($4.32) EPS, Q2 2026 earnings at ($5.01) EPS, Q3 2026 earnings at ($5.02) EPS and Q4 2026 earnings at ($5.03) EPS.

Several other equities research analysts also recently commented on the stock. Chardan Capital initiated coverage on shares of Praxis Precision Medicines in a research report on Wednesday, May 7th. They issued a “buy” rating and a $80.00 price target for the company. Oppenheimer increased their price target on shares of Praxis Precision Medicines from $97.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Wedbush increased their price target on shares of Praxis Precision Medicines from $26.00 to $28.00 and gave the stock an “underperform” rating in a research note on Monday, May 5th. Finally, Needham & Company LLC restated a “buy” rating and issued a $80.00 price target on shares of Praxis Precision Medicines in a research report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $94.11.

Praxis Precision Medicines Stock Down 2.0%

Shares of NASDAQ:PRAX opened at $53.85 on Friday. Praxis Precision Medicines has a fifty-two week low of $26.70 and a fifty-two week high of $91.83. The company has a market cap of $1.10 billion, a PE ratio of -5.02 and a beta of 2.60. The firm has a 50-day simple moving average of $43.38 and a 200 day simple moving average of $50.09.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.20) by ($0.09). Praxis Precision Medicines had a negative return on equity of 50.42% and a negative net margin of 2,137.48%. As a group, research analysts forecast that Praxis Precision Medicines will post -10.22 EPS for the current fiscal year.

Institutional Investors Weigh In On Praxis Precision Medicines

Institutional investors and hedge funds have recently modified their holdings of the business. Adage Capital Partners GP L.L.C. increased its stake in Praxis Precision Medicines by 188.1% in the first quarter. Adage Capital Partners GP L.L.C. now owns 1,742,758 shares of the company’s stock valued at $65,998,000 after purchasing an additional 1,137,748 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Praxis Precision Medicines by 77.5% during the fourth 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 last quarter. Driehaus Capital Management LLC lifted its stake in Praxis Precision Medicines by 192.0% in the first quarter. Driehaus Capital Management LLC now owns 481,598 shares of the company’s stock valued at $18,238,000 after acquiring an additional 316,686 shares during the last quarter. VR Adviser LLC lifted its stake in Praxis Precision Medicines by 40.2% in the fourth 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. Finally, Alyeska Investment Group L.P. acquired a new stake in Praxis Precision Medicines in the fourth quarter valued at $17,454,000. 67.84% of the stock is owned by institutional investors.

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.