Praxis Precision Medicines’ (PRAX) Buy Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of Praxis Precision Medicines (NASDAQ:PRAX) in a research report report published on Friday morning,Benzinga reports. The brokerage currently has a $105.00 price objective on the stock. HC Wainwright also issued estimates for Praxis Precision Medicines’ Q1 2026 earnings at ($4.32) EPS, Q2 2026 earnings at ($5.01) EPS, Q3 2026 earnings at ($5.02) EPS and Q4 2026 earnings at ($5.03) EPS.

PRAX has been the topic of a number of other reports. Wedbush raised their target price on shares of Praxis Precision Medicines from $26.00 to $28.00 and gave the stock an “underperform” rating in a research note on Monday, May 5th. Chardan Capital assumed coverage on Praxis Precision Medicines in a research report on Wednesday, May 7th. They set a “buy” rating and a $80.00 price objective on the stock. Oppenheimer upped their target price on Praxis Precision Medicines from $97.00 to $115.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of Praxis Precision Medicines in a research note on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Praxis Precision Medicines has a consensus rating of “Moderate Buy” and a consensus price target of $94.11.

Praxis Precision Medicines Stock Performance

Shares of PRAX opened at $53.85 on Friday. The stock has a 50 day moving average price of $43.38 and a 200 day moving average price of $49.89. Praxis Precision Medicines has a one year low of $26.70 and a one year high of $91.83. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of -5.02 and a beta of 2.60.

Praxis Precision Medicines (NASDAQ:PRAX) last released its earnings results on Friday, May 2nd. The company reported ($3.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($3.20) by ($0.09). Praxis Precision Medicines had a negative return on equity of 50.42% and a negative net margin of 2,137.48%. On average, analysts predict that Praxis Precision Medicines will post -10.22 earnings per share for the current year.

Institutional Trading of Praxis Precision Medicines

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Assenagon Asset Management S.A. boosted its stake in Praxis Precision Medicines by 19.1% during the second quarter. Assenagon Asset Management S.A. now owns 604,298 shares of the company’s stock worth $25,411,000 after buying an additional 96,898 shares during the period. Rhumbline Advisers raised its stake in shares of Praxis Precision Medicines by 6.7% in the 1st quarter. Rhumbline Advisers now owns 24,294 shares of the company’s stock valued at $920,000 after acquiring an additional 1,525 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Praxis Precision Medicines by 367.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 87,081 shares of the company’s stock worth $3,298,000 after acquiring an additional 68,466 shares during the last quarter. Woodline Partners LP boosted its position in shares of Praxis Precision Medicines by 1,666.5% during the 1st quarter. Woodline Partners LP now owns 175,727 shares of the company’s stock worth $6,655,000 after purchasing an additional 165,779 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Praxis Precision Medicines by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,708 shares of the company’s stock valued at $444,000 after purchasing an additional 573 shares during the last quarter. 67.84% of the stock is owned by institutional investors and hedge funds.

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.