Praxis Precision Medicines (NASDAQ:PRAX – Free Report) had its price target raised by Guggenheim from $155.00 to $170.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.
Other analysts also recently issued reports about the company. Truist Financial reissued a buy rating and issued a $150.00 target price on shares of Praxis Precision Medicines in a research report on Thursday, May 16th. Oppenheimer reaffirmed an outperform rating and set a $134.00 price objective on shares of Praxis Precision Medicines in a report on Wednesday. Wedbush increased their target price on Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a neutral rating in a research report on Wednesday. HC Wainwright reiterated a buy rating and set a $105.00 price objective on shares of Praxis Precision Medicines in a research note on Tuesday, May 14th. Finally, Needham & Company LLC restated a buy rating and issued a $145.00 target price on shares of Praxis Precision Medicines in a research note on Monday, August 12th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $142.44.
Check Out Our Latest Stock Report on Praxis Precision Medicines
Praxis Precision Medicines Stock Performance
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. Simplex Trading LLC bought a new stake in Praxis Precision Medicines during the fourth quarter valued at approximately $31,000. Victory Capital Management Inc. increased its stake in Praxis Precision Medicines by 25.0% in the fourth quarter. Victory Capital Management Inc. now owns 15,705 shares of the company’s stock valued at $350,000 after acquiring an additional 3,137 shares during the last quarter. DLD Asset Management LP purchased a new stake in Praxis Precision Medicines during the fourth quarter valued at about $223,000. Wildcat Capital Management LLC bought a new stake in Praxis Precision Medicines during the fourth quarter worth about $373,000. Finally, PCG Wealth Advisors LLC purchased a new position in shares of Praxis Precision Medicines in the 1st quarter worth about $788,000. Hedge funds and other institutional investors own 67.84% of the company’s stock.
About Praxis Precision Medicines
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.
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