Praxis Precision Medicines (NASDAQ:PRAX) Given New $163.00 Price Target at Oppenheimer

Praxis Precision Medicines (NASDAQ:PRAX) had its target price hoisted by analysts at Oppenheimer from $143.00 to $163.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target would suggest a potential upside of 131.60% from the company’s current price.

Other analysts have also recently issued reports about the company. Needham & Company LLC reissued a “buy” rating and issued a $145.00 target price on shares of Praxis Precision Medicines in a research note on Tuesday, September 3rd. Guggenheim raised their target price on Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. Wedbush raised their target price on Praxis Precision Medicines from $40.00 to $48.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 14th. Finally, HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Praxis Precision Medicines in a research note on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $145.67.

Praxis Precision Medicines Stock Up 0.5 %

Shares of PRAX traded up $0.35 during trading hours on Thursday, hitting $70.38. The company had a trading volume of 61,677 shares, compared to its average volume of 273,883. The firm has a market cap of $1.25 billion, a P/E ratio of -6.84 and a beta of 2.73. The stock’s 50 day moving average price is $61.82 and its 200 day moving average price is $53.00. Praxis Precision Medicines has a 52-week low of $13.01 and a 52-week high of $75.73.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings data on Tuesday, August 13th. The company reported ($1.74) EPS for the quarter, topping the consensus estimate of ($2.38) by $0.64. The firm had revenue of $0.36 million for the quarter, compared to the consensus estimate of $1.44 million. Praxis Precision Medicines had a negative return on equity of 61.47% and a negative net margin of 6,987.01%. On average, research analysts expect that Praxis Precision Medicines will post -8.5 EPS for the current fiscal year.

Institutional Trading of Praxis Precision Medicines

Large investors have recently bought and sold shares of the company. Amalgamated Bank bought a new stake in Praxis Precision Medicines during the 2nd quarter valued at approximately $25,000. Quarry LP bought a new stake in shares of Praxis Precision Medicines in the 2nd quarter worth approximately $83,000. US Bancorp DE boosted its position in shares of Praxis Precision Medicines by 35.9% in the 3rd quarter. US Bancorp DE now owns 2,289 shares of the company’s stock worth $132,000 after purchasing an additional 605 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Praxis Precision Medicines in the 1st quarter worth approximately $150,000. Finally, Chase Investment Counsel Corp bought a new stake in shares of Praxis Precision Medicines in the 1st quarter worth approximately $229,000. 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.