Praxis Precision Medicines, Inc. (NASDAQ:PRAX) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 4.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 142,892 shares of the company’s stock after acquiring an additional 5,840 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Praxis Precision Medicines were worth $10,997,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in shares of Praxis Precision Medicines during the 3rd quarter worth about $217,000. BNP Paribas Financial Markets lifted its position in shares of Praxis Precision Medicines by 369.4% during the third quarter. BNP Paribas Financial Markets now owns 9,525 shares of the company’s stock worth $548,000 after purchasing an additional 7,496 shares in the last quarter. Glenmede Trust Co. NA acquired a new position in shares of Praxis Precision Medicines during the third quarter worth $240,000. MetLife Investment Management LLC raised its holdings in Praxis Precision Medicines by 129.1% in the third quarter. MetLife Investment Management LLC now owns 10,131 shares of the company’s stock valued at $583,000 after acquiring an additional 5,708 shares in the last quarter. Finally, Walleye Capital LLC acquired a new stake in Praxis Precision Medicines in the third quarter valued at $3,200,000. 67.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PRAX. Truist Financial lowered their target price on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Wedbush lowered shares of Praxis Precision Medicines from a “hold” rating to a “strong sell” rating in a research report on Friday, February 28th. 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 price target for the company. Needham & Company LLC reduced their price objective on shares of Praxis Precision Medicines from $150.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Finally, HC Wainwright reduced their price target on shares of Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. One research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $123.80.

Praxis Precision Medicines Trading Down 1.5 %

PRAX stock opened at $37.12 on Friday. The firm has a market capitalization of $748.45 million, a PE ratio of -3.60 and a beta of 2.76. Praxis Precision Medicines, Inc. has a 1-year low of $30.01 and a 1-year high of $91.83. The business’s 50 day simple moving average is $64.56 and its 200 day simple moving average is $67.99.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results 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 net margin of 9,409.22% and a negative return on equity of 54.86%. The company had revenue of $7.48 million for the quarter, compared to the consensus estimate of $0.36 million. As a group, sell-side analysts predict that Praxis Precision Medicines, Inc. will post -10.22 EPS 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.