Praxis Precision Medicines (NASDAQ:PRAX) Given New $105.00 Price Target at HC Wainwright

Praxis Precision Medicines (NASDAQ:PRAX) had its price target trimmed by HC Wainwright from $120.00 to $105.00 in a report released on Monday, Marketbeat.com reports. The brokerage currently has a buy rating on the stock. HC Wainwright also issued estimates for Praxis Precision Medicines’ Q1 2025 earnings at ($3.18) EPS, Q2 2025 earnings at ($3.64) EPS, Q3 2025 earnings at ($4.15) EPS, Q4 2025 earnings at ($4.16) EPS, FY2025 earnings at ($15.13) EPS, Q1 2026 earnings at ($4.39) EPS, Q2 2026 earnings at ($4.82) EPS, Q3 2026 earnings at ($4.89) EPS, Q4 2026 earnings at ($4.90) EPS, FY2026 earnings at ($18.99) EPS, FY2027 earnings at ($15.64) EPS, FY2028 earnings at ($15.64) EPS and FY2029 earnings at $23.38 EPS.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC reduced their target price on shares of Praxis Precision Medicines from $150.00 to $85.00 and set a “buy” rating for the company in a report on Monday. Truist Financial boosted their target price on shares of Praxis Precision Medicines from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Robert W. Baird reduced their target price on shares of Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating for the company in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Praxis Precision Medicines in a report on Tuesday, February 11th. They issued a “buy” rating and a $111.00 target price for the company. One research analyst has rated the stock with a sell rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Praxis Precision Medicines has a consensus rating of “Moderate Buy” and an average target price of $123.80.

Praxis Precision Medicines Price Performance

NASDAQ:PRAX opened at $37.85 on Monday. Praxis Precision Medicines has a 1-year low of $30.01 and a 1-year high of $91.83. The company has a 50-day moving average of $73.74 and a 200 day moving average of $69.30. The firm has a market cap of $763.17 million, a PE ratio of -3.67 and a beta of 2.76.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings data on Friday, February 28th. The company reported ($2.94) earnings per share for the quarter, missing analysts’ consensus estimates of ($2.76) by ($0.18). Praxis Precision Medicines had a negative return on equity of 54.86% and a negative net margin of 9,409.22%. The business had revenue of $7.48 million during the quarter, compared to analysts’ expectations of $0.36 million. Sell-side analysts anticipate that Praxis Precision Medicines will post -10.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Praxis Precision Medicines

Several hedge funds have recently modified their holdings of the stock. Arizona State Retirement System increased its holdings in Praxis Precision Medicines by 4.2% in the 4th quarter. Arizona State Retirement System now owns 3,851 shares of the company’s stock worth $296,000 after buying an additional 156 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Praxis Precision Medicines by 2.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,135 shares of the company’s stock worth $856,000 after buying an additional 258 shares during the period. GF Fund Management CO. LTD. acquired a new position in Praxis Precision Medicines in the 4th quarter worth approximately $30,000. JPMorgan Chase & Co. increased its holdings in Praxis Precision Medicines by 6.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 7,814 shares of the company’s stock worth $450,000 after buying an additional 448 shares during the period. Finally, MetLife Investment Management LLC increased its holdings in Praxis Precision Medicines by 5.4% in the 4th quarter. MetLife Investment Management LLC now owns 10,675 shares of the company’s stock worth $822,000 after buying an additional 544 shares during the period. Institutional investors and hedge funds own 67.84% of the company’s stock.

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.