Invesco Ltd. Has $442,000 Stock Holdings in Praxis Precision Medicines, Inc. $PRAX

Invesco Ltd. lessened its holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 86.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,678 shares of the company’s stock after selling 75,305 shares during the quarter. Invesco Ltd.’s holdings in Praxis Precision Medicines were worth $442,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. GF Fund Management CO. LTD. acquired a new stake in shares of Praxis Precision Medicines in the 4th quarter valued at $30,000. GAMMA Investing LLC grew its holdings in shares of Praxis Precision Medicines by 6,075.4% during the 1st quarter. GAMMA Investing LLC now owns 4,014 shares of the company’s stock valued at $152,000 after purchasing an additional 3,949 shares during the last quarter. Graham Capital Management L.P. bought a new stake in shares of Praxis Precision Medicines during the 4th quarter valued at approximately $209,000. Y Intercept Hong Kong Ltd bought a new stake in shares of Praxis Precision Medicines during the 1st quarter valued at approximately $237,000. Finally, Ameriprise Financial Inc. bought a new stake in shares of Praxis Precision Medicines during the 4th quarter valued at approximately $248,000. Institutional investors and hedge funds own 67.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PRAX shares. Lifesci Capital raised shares of Praxis Precision Medicines to a “strong-buy” rating in a report on Wednesday. HC Wainwright reissued a “buy” rating and set a $115.00 price objective (up previously from $105.00) on shares of Praxis Precision Medicines in a report on Tuesday, August 5th. Chardan Capital reissued a “buy” rating and set a $80.00 price objective on shares of Praxis Precision Medicines in a report on Tuesday, July 29th. Oppenheimer raised their price objective on Praxis Precision Medicines from $97.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Needham & Company LLC reissued a “buy” rating and set a $80.00 price objective on shares of Praxis Precision Medicines in a report on Thursday, June 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Praxis Precision Medicines presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.88.

Praxis Precision Medicines Trading Up 1.6%

Shares of PRAX opened at $46.85 on Friday. The company has a market capitalization of $986.19 million, a PE ratio of -3.81 and a beta of 2.61. Praxis Precision Medicines, Inc. has a 12 month low of $26.70 and a 12 month high of $91.83. The stock’s 50-day moving average price is $49.46 and its two-hundred day moving average price is $43.41.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings results on Monday, August 4th. The company reported ($3.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.40) by $0.09. Praxis Precision Medicines had a negative net margin of 2,137.48% and a negative return on equity of 60.07%. Equities research analysts predict that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.

Praxis Precision Medicines 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.