Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Receives Average Recommendation of “Moderate Buy” from Analysts

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) has been assigned an average rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat reports. One analyst has rated the stock with a hold rating and eight have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $146.33.

Several research firms recently weighed in on PRAX. Oppenheimer lifted their price objective on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the stock an “outperform” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “buy” rating and set a $151.00 price target on shares of Praxis Precision Medicines in a research report on Thursday, November 7th. Finally, HC Wainwright restated a “buy” rating and issued a $120.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, December 12th.

Insider Transactions at Praxis Precision Medicines

In other news, insider Lauren Mastrocola sold 5,188 shares of the company’s stock in a transaction dated Thursday, November 14th. The stock was sold at an average price of $81.78, for a total transaction of $424,274.64. Following the completion of the transaction, the insider now directly owns 5,613 shares of the company’s stock, valued at $459,031.14. This represents a 48.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, General Counsel Alex Nemiroff sold 8,239 shares of Praxis Precision Medicines stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $80.20, for a total value of $660,767.80. Following the completion of the sale, the general counsel now directly owns 10,301 shares in the company, valued at approximately $826,140.20. This represents a 44.44 % decrease in their position. The disclosure for this sale can be found here. 2.70% of the stock is owned by insiders.

Institutional Trading of Praxis Precision Medicines

A number of institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its stake in Praxis Precision Medicines by 85.6% in the 3rd quarter. Franklin Resources Inc. now owns 445,233 shares of the company’s stock valued at $25,619,000 after buying an additional 205,335 shares during the last quarter. Baker BROS. Advisors LP grew its holdings in shares of Praxis Precision Medicines by 145.6% in the 3rd quarter. Baker BROS. Advisors LP now owns 323,105 shares of the company’s stock valued at $18,591,000 after acquiring an additional 191,572 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Praxis Precision Medicines by 326.9% in the third quarter. Wellington Management Group LLP now owns 219,907 shares of the company’s stock valued at $12,653,000 after acquiring an additional 168,394 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Praxis Precision Medicines by 37.2% during the third quarter. Janus Henderson Group PLC now owns 523,566 shares of the company’s stock worth $30,079,000 after acquiring an additional 141,881 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in Praxis Precision Medicines by 105.2% during the second quarter. Marshall Wace LLP now owns 248,381 shares of the company’s stock worth $10,273,000 after acquiring an additional 127,357 shares in the last quarter. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Stock Up 1.8 %

PRAX stock opened at $80.93 on Friday. Praxis Precision Medicines has a twelve month low of $23.54 and a twelve month high of $86.93. The business’s fifty day moving average is $74.49 and its 200-day moving average is $61.73. The company has a market cap of $1.51 billion, a P/E ratio of -7.86 and a beta of 2.67.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results on Wednesday, November 6th. The company reported ($2.75) earnings per share for the quarter, missing the consensus estimate of ($2.01) by ($0.74). The company had revenue of $0.30 million during the quarter, compared to analyst estimates of $0.53 million. Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.86%. During the same period in the previous year, the company posted ($2.70) EPS. Research analysts anticipate that Praxis Precision Medicines will post -10.26 earnings per share for the current fiscal year.

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.