Praxis Precision Medicines (NASDAQ:PRAX) Given “Buy” Rating at HC Wainwright

Praxis Precision Medicines (NASDAQ:PRAX)‘s stock had its “buy” rating reiterated by HC Wainwright in a report issued on Tuesday, Benzinga reports. They presently have a $1,201.00 price target on the stock. HC Wainwright’s price target would indicate a potential upside of 335.12% from the stock’s current price.

A number of other research analysts also recently commented on PRAX. Raymond James Financial reissued a “strong-buy” rating and issued a $945.00 price objective on shares of Praxis Precision Medicines in a research report on Monday, August 17th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Praxis Precision Medicines in a research note on Monday, August 24th. Robert W. Baird set a $514.00 price target on Praxis Precision Medicines in a report on Friday, August 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $462.00 price objective (up from $449.00) on shares of Praxis Precision Medicines in a research report on Friday, August 7th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $575.00 target price (up from $470.00) on shares of Praxis Precision Medicines in a report on Friday, August 21st. Three equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and two have issued a Sell rating to the company. According to MarketBeat.com, Praxis Precision Medicines currently has a consensus rating of “Moderate Buy” and a consensus price target of $613.26.

Praxis Precision Medicines Price Performance

Shares of Praxis Precision Medicines stock traded down $7.54 on Tuesday, hitting $276.01. The company had a trading volume of 158,793 shares, compared to its average volume of 461,653. The stock has a 50-day moving average of $332.94 and a 200-day moving average of $321.06. Praxis Precision Medicines has a twelve month low of $50.31 and a twelve month high of $392.70. The firm has a market capitalization of $7.71 billion, a P/E ratio of -21.32 and a beta of 2.79.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings data on Thursday, August 6th. The company reported ($2.87) earnings per share for the quarter, topping the consensus estimate of ($3.67) by $0.80. Equities analysts predict that Praxis Precision Medicines will post -13.9 EPS for the current year.

Institutional Investors Weigh In On Praxis Precision Medicines

A number of large investors have recently bought and sold shares of PRAX. Integrated Wealth Concepts LLC acquired a new position in shares of Praxis Precision Medicines in the 2nd quarter valued at approximately $38,000. Parallel Advisors LLC raised its position in Praxis Precision Medicines by 3,000.0% during the first quarter. Parallel Advisors LLC now owns 124 shares of the company’s stock valued at $40,000 after purchasing an additional 120 shares in the last quarter. GAMMA Investing LLC lifted its stake in Praxis Precision Medicines by 10.3% during the second quarter. GAMMA Investing LLC now owns 332 shares of the company’s stock worth $111,000 after purchasing an additional 31 shares during the last quarter. ABS Direct Equity Fund LLC acquired a new stake in shares of Praxis Precision Medicines in the 1st quarter valued at $135,000. Finally, ACT Capital Management LLC acquired a new position in shares of Praxis Precision Medicines during the 4th quarter worth $206,000. 67.84% of the stock is currently owned by institutional investors and hedge funds.

About Praxis Precision Medicines

Praxis Precision Medicines, Inc is a clinical-stage biopharmaceutical company focused on developing therapies for central nervous system disorders. The company uses insights from human genetics, neuroscience and its Cerebrum™ platform to identify and advance medicines for conditions in which existing treatment options may be limited.

Praxis’ pipeline has included investigational treatments for epilepsies and other neurological disorders, including developmental and epileptic encephalopathies, essential tremor and movement-related conditions.