Truist Financial Boosts Praxis Precision Medicines (NASDAQ:PRAX) Price Target to $700.00

Praxis Precision Medicines (NASDAQ:PRAX) had its price objective raised by equities researchers at Truist Financial from $500.00 to $700.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 108.78% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. UBS Group set a $750.00 price target on shares of Praxis Precision Medicines in a research report on Monday, December 15th. Needham & Company LLC lifted their target price on shares of Praxis Precision Medicines from $460.00 to $510.00 and gave the stock a “buy” rating in a research note on Wednesday, February 4th. Citigroup reissued a “conviction-buy” rating on shares of Praxis Precision Medicines in a research note on Tuesday, December 30th. Piper Sandler restated an “overweight” rating and set a $1,200.00 price target (up previously from $450.00) on shares of Praxis Precision Medicines in a report on Wednesday, January 28th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $450.00 price target (up previously from $300.00) on shares of Praxis Precision Medicines in a research report on Tuesday, December 9th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $580.88.

Praxis Precision Medicines Price Performance

PRAX stock opened at $335.28 on Friday. Praxis Precision Medicines has a 1 year low of $26.70 and a 1 year high of $349.32. The firm has a market capitalization of $8.45 billion, a PE ratio of -24.91 and a beta of 2.84. The business has a 50 day simple moving average of $300.60 and a 200-day simple moving average of $179.17.

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

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Praxis Precision Medicines by 5.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,708 shares of the company’s stock valued at $444,000 after buying an additional 573 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Praxis Precision Medicines by 367.8% during 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 valued at $3,298,000 after acquiring an additional 68,466 shares during the period. CWM LLC grew its position in Praxis Precision Medicines by 877.9% in the 2nd quarter. CWM LLC now owns 753 shares of the company’s stock valued at $32,000 after acquiring an additional 676 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Praxis Precision Medicines by 88.3% during the second quarter. Nisa Investment Advisors LLC now owns 629 shares of the company’s stock worth $26,000 after purchasing an additional 295 shares during the period. Finally, Geode Capital Management LLC increased its stake in Praxis Precision Medicines by 8.1% during the second quarter. Geode Capital Management LLC now owns 451,731 shares of the company’s stock worth $18,997,000 after purchasing an additional 33,715 shares during the period. 67.84% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Praxis Precision Medicines

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

About Praxis Precision Medicines

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.