Praxis Precision Medicines (NASDAQ:PRAX) Now Covered by Analysts at Robert W. Baird

Robert W. Baird began coverage on shares of Praxis Precision Medicines (NASDAQ:PRAX) in a report issued on Wednesday morning, MarketBeat reports. The brokerage issued an outperform rating and a $117.00 target price on the stock.

Other analysts have also issued research reports about the company. Jefferies Financial Group upped their target price on Praxis Precision Medicines from $75.00 to $128.00 and gave the stock a buy rating in a research note on Tuesday, March 26th. Wedbush increased their target price on shares of Praxis Precision Medicines from $16.00 to $29.00 and gave the company a neutral rating in a report on Friday, January 12th. Finally, HC Wainwright reissued a buy rating and issued a $105.00 price target on shares of Praxis Precision Medicines in a research note on Friday, April 26th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $105.80.

Praxis Precision Medicines Stock Performance

Shares of NASDAQ PRAX opened at $55.16 on Wednesday. Praxis Precision Medicines has a 52 week low of $12.45 and a 52 week high of $67.21. The business has a 50-day simple moving average of $52.57 and a two-hundred day simple moving average of $35.21.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results on Tuesday, March 5th. The company reported ($2.97) EPS for the quarter, beating analysts’ consensus estimates of ($3.05) by $0.08. Praxis Precision Medicines had a negative return on equity of 151.02% and a negative net margin of 5,037.88%. The business had revenue of $0.52 million for the quarter, compared to analysts’ expectations of $0.30 million. On average, equities research analysts expect that Praxis Precision Medicines will post -8.64 EPS for the current fiscal year.

Institutional Trading of Praxis Precision Medicines

Large investors have recently modified their holdings of the business. Simplex Trading LLC bought a new stake in shares of Praxis Precision Medicines during the 4th quarter valued at about $31,000. Jump Financial LLC bought a new stake in Praxis Precision Medicines during the 3rd quarter valued at approximately $56,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of Praxis Precision Medicines by 45.0% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 56,130 shares of the company’s stock worth $96,000 after acquiring an additional 17,428 shares during the period. Bank of New York Mellon Corp raised its position in shares of Praxis Precision Medicines by 409.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 75,077 shares of the company’s stock worth $128,000 after acquiring an additional 60,342 shares in the last quarter. Finally, Citigroup Inc. lifted its stake in shares of Praxis Precision Medicines by 44,585.5% in the 3rd quarter. Citigroup Inc. now owns 83,115 shares of the company’s stock valued at $142,000 after purchasing an additional 82,929 shares during the period. 67.84% of the stock is owned by institutional investors.

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.