Wedbush Forecasts Strong Price Appreciation for Praxis Precision Medicines (NASDAQ:PRAX) Stock

Praxis Precision Medicines (NASDAQ:PRAX) had its target price boosted by Wedbush from $95.00 to $130.00 in a research report issued to clients and investors on Friday, MarketBeat Ratings reports. The firm presently has an “underperform” rating on the stock. Wedbush’s price objective indicates a potential downside of 61.23% from the company’s current price.

Several other research analysts have also weighed in on PRAX. Wells Fargo & Company set a $305.00 price objective on shares of Praxis Precision Medicines and gave the stock an “equal weight” rating in a report on Friday. TD Cowen reaffirmed a “buy” rating on shares of Praxis Precision Medicines in a research note on Thursday, January 29th. BTIG Research reiterated a “buy” rating and issued a $843.00 price target (up previously from $507.00) on shares of Praxis Precision Medicines in a report on Monday, December 29th. Guggenheim reissued a “buy” rating and set a $800.00 price objective (up from $760.00) on shares of Praxis Precision Medicines in a research note on Tuesday, February 10th. Finally, Needham & Company LLC upped their price objective on Praxis Precision Medicines from $460.00 to $510.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $580.88.

Praxis Precision Medicines Trading Up 1.1%

Shares of PRAX stock opened at $335.28 on Friday. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of -24.91 and a beta of 2.84. The firm has a 50-day moving average price of $300.60 and a 200 day moving average price of $179.17. Praxis Precision Medicines has a twelve month low of $26.70 and a twelve month high of $349.32.

Praxis Precision Medicines (NASDAQ:PRAX) last released its quarterly earnings results on Thursday, February 19th. The company reported ($3.50) earnings per share (EPS) for the quarter, missing the consensus estimate of ($3.00) by ($0.50). As a group, research analysts predict that Praxis Precision Medicines will post -10.22 earnings per share for the current year.

Institutional Investors Weigh In On Praxis Precision Medicines

Hedge funds and other institutional investors have recently modified their holdings of the stock. Congress Asset Management Co. bought a new position in shares of Praxis Precision Medicines in the third quarter worth $1,613,000. SG Americas Securities LLC bought a new stake in shares of Praxis Precision Medicines in the 3rd quarter worth approximately $715,000. Vivo Capital LLC acquired a new stake in shares of Praxis Precision Medicines during the 2nd quarter valued at $7,048,000. Kennedy Capital Management LLC lifted its position in shares of Praxis Precision Medicines by 7.9% during the 2nd quarter. Kennedy Capital Management LLC now owns 70,445 shares of the company’s stock valued at $2,962,000 after acquiring an additional 5,180 shares during the last quarter. Finally, Arizona State Retirement System bought a new stake in shares of Praxis Precision Medicines during the 3rd quarter worth $287,000. Institutional investors own 67.84% of the company’s stock.

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.