Total Clarity Wealth Management Inc. Purchases New Position in Praxis Precision Medicines, Inc. $PRAX

Total Clarity Wealth Management Inc. purchased a new stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,820 shares of the company’s stock, valued at approximately $536,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PRAX. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Praxis Precision Medicines by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,708 shares of the company’s stock valued at $444,000 after acquiring an additional 573 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Praxis Precision Medicines by 367.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,081 shares of the company’s stock valued at $3,298,000 after acquiring an additional 68,466 shares in the last quarter. Creative Planning bought a new stake in shares of Praxis Precision Medicines during the second quarter valued at approximately $273,000. JPMorgan Chase & Co. increased its position in shares of Praxis Precision Medicines by 21.4% during the second quarter. JPMorgan Chase & Co. now owns 13,938 shares of the company’s stock valued at $586,000 after acquiring an additional 2,459 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Praxis Precision Medicines by 15.7% during the second quarter. Legal & General Group Plc now owns 16,670 shares of the company’s stock valued at $701,000 after acquiring an additional 2,261 shares in the last quarter. Institutional investors own 67.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. HC Wainwright reissued a “buy” rating and set a $1,245.00 price target on shares of Praxis Precision Medicines in a research report on Tuesday, April 7th. Piper Sandler reissued an “overweight” rating and set a $1,200.00 price target (up from $450.00) on shares of Praxis Precision Medicines in a research report on Wednesday, January 28th. BTIG Research reissued a “buy” rating and set a $843.00 price target on shares of Praxis Precision Medicines in a research report on Monday, April 6th. Robert W. Baird set a $433.00 price target on shares of Praxis Precision Medicines and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, Raymond James Financial initiated coverage on shares of Praxis Precision Medicines in a research report on Friday, April 10th. They set a “strong-buy” rating and a $815.00 price target for the company. Five research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $590.78.

Praxis Precision Medicines Price Performance

Shares of Praxis Precision Medicines stock opened at $324.20 on Friday. The company’s fifty day simple moving average is $318.10 and its 200-day simple moving average is $270.30. The stock has a market capitalization of $9.03 billion, a PE ratio of -24.09 and a beta of 2.76. Praxis Precision Medicines, Inc. has a 1-year low of $34.89 and a 1-year high of $356.00.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings results on Thursday, February 19th. The company reported ($3.50) earnings per share for the quarter, missing the consensus estimate of ($3.00) by ($0.50). As a group, research analysts anticipate that Praxis Precision Medicines, Inc. will post -14.88 EPS for the current year.

Praxis Precision Medicines Profile

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing precision therapies for disorders driven by neuronal excitability. The company applies translational neuroscience and genetic insights to design small molecule drugs that target specific ion channels and receptor subtypes implicated in neurological and psychiatric conditions. Its research aims to address unmet needs in rare epilepsies, essential tremor, treatment-resistant depression and other central nervous system (CNS) disorders.

The company’s pipeline includes several lead candidates at various stages of development.