Praxis Precision Medicines (NASDAQ:PRAX) Sets New 12-Month High Following Analyst Upgrade

Praxis Precision Medicines, Inc. (NASDAQ:PRAX)’s stock price reached a new 52-week high on Friday after Truist Financial raised their price target on the stock from $500.00 to $700.00. Truist Financial currently has a buy rating on the stock. Praxis Precision Medicines traded as high as $348.73 and last traded at $347.25, with a volume of 323594 shares trading hands. The stock had previously closed at $331.61.

Other equities research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $412.00 price objective on shares of Praxis Precision Medicines in a report on Friday. Weiss Ratings restated a “sell (e+)” rating on shares of Praxis Precision Medicines in a research report on Monday, December 29th. Guggenheim reaffirmed a “buy” rating and issued a $800.00 target price (up previously from $760.00) on shares of Praxis Precision Medicines in a research report on Tuesday, February 10th. Wedbush boosted their target price on shares of Praxis Precision Medicines from $95.00 to $130.00 and gave the company an “underperform” rating in a research note on Friday. Finally, Piper Sandler reissued an “overweight” rating and set a $1,200.00 price target (up from $450.00) on shares of Praxis Precision Medicines in a report on Wednesday, January 28th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $580.88.

Praxis Precision Medicines News Summary

Here are the key news stories impacting Praxis Precision Medicines this week:

• Positive Sentiment: Company filed two NDAs — Praxis submitted NDAs to the FDA for ulixacaltamide (essential tremor) and relutrigine (SCN2A/SCN8A DEEs), a major regulatory milestone that materially de-risks timing to potential approvals and commercial launch. GlobeNewswire: Corporate Update & 2025 Results
• Positive Sentiment: Strong analyst bullishness — Truist raised its price target to $700 and kept a Buy rating, signaling confidence in commercial potential (large upside vs. current levels); other firms (e.g., Guggenheim) have also raised targets into the high hundreds. These upgrades support demand from growth-oriented investors. The Fly: Truist PT Raise
• Neutral Sentiment: Analyst confidence narratives — Several write-ups highlight ulixacaltamide as the valuation driver and list large addressable markets; these pieces buoy sentiment but are forward-looking and hinge on FDA review/outcomes. Yahoo Finance: Analyst Confidence
• Neutral Sentiment: Corporate update and earnings call — Management provided Q4/2025 results and a corporate update; call highlights and the company’s pipeline/regulatory timeline were reviewed, which investors parsed for approval timelines and cash runway. Yahoo Finance: Q4 Call Highlights
• Negative Sentiment: Q4 earnings miss — Praxis reported EPS of ($3.50), missing consensus (~($3.00)), which can pressure the stock by highlighting higher near-term spend and delays to profitability despite pipeline progress. MarketBeat: Q4 EPS Miss
• Negative Sentiment: Mixed / cautious research — Wedbush raised its PT but kept an Underperform rating (PT $130), and Wells Fargo initiated with an Equal Weight/$282 PT, underscoring that some analysts see valuation/near-term execution risk despite regulatory progress. Those views can create selling pressure from more conservative holders. The Fly: Wedbush PT & Rating

Hedge Funds Weigh In On Praxis Precision Medicines

A number of hedge funds have recently made changes to their positions in the business. Janus Henderson Group PLC raised its stake in Praxis Precision Medicines by 17.2% during the 4th quarter. Janus Henderson Group PLC now owns 3,240,086 shares of the company’s stock valued at $954,834,000 after purchasing an additional 476,227 shares during the period. Perceptive Advisors LLC grew its holdings in Praxis Precision Medicines by 27.6% during the 4th quarter. Perceptive Advisors LLC now owns 1,995,986 shares of the company’s stock valued at $588,297,000 after buying an additional 431,432 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its position in shares of Praxis Precision Medicines by 13.3% during the second quarter. Adage Capital Partners GP L.L.C. now owns 1,974,585 shares of the company’s stock valued at $83,031,000 after buying an additional 231,827 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Praxis Precision Medicines by 15.3% during the fourth quarter. Vanguard Group Inc. now owns 1,460,933 shares of the company’s stock valued at $430,595,000 after buying an additional 193,647 shares during the last quarter. Finally, Orbis Allan Gray Ltd purchased a new position in shares of Praxis Precision Medicines in the fourth quarter worth $369,946,000. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Price Performance

The stock has a market cap of $8.45 billion, a P/E ratio of -24.91 and a beta of 2.84. The stock’s 50-day moving average is $300.60 and its two-hundred day moving average is $178.26.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings results on Thursday, February 19th. The company reported ($3.50) EPS for the quarter, missing the consensus estimate of ($3.00) by ($0.50). On average, analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 EPS for the current fiscal year.

Praxis Precision Medicines Company Profile

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing precision therapies for disorders driven by neuronal excitability. The company applies translational neuroscience and genetic insights to design small molecule drugs that target specific ion channels and receptor subtypes implicated in neurological and psychiatric conditions. Its research aims to address unmet needs in rare epilepsies, essential tremor, treatment-resistant depression and other central nervous system (CNS) disorders.

The company’s pipeline includes several lead candidates at various stages of development.