Praxis Precision Medicines (NASDAQ:PRAX) Price Target Raised to $189.00

Praxis Precision Medicines (NASDAQ:PRAX) had its price objective increased by Wedbush from $188.00 to $189.00 in a research note published on Tuesday morning,Benzinga reports. Wedbush currently has an underperform rating on the stock.

A number of other equities analysts have also recently weighed in on the company. The Goldman Sachs Group reissued a “buy” rating and issued a $575.00 price target (up from $470.00) on shares of Praxis Precision Medicines in a report on Friday, August 21st. UBS Group initiated coverage on Praxis Precision Medicines in a research note on Wednesday, October 14th. They set a “buy” rating and a $706.00 price objective on the stock. HC Wainwright reaffirmed a “buy” rating and set a $1,201.00 price objective on shares of Praxis Precision Medicines in a research note on Thursday, October 15th. Wall Street Zen cut Praxis Precision Medicines from a “hold” rating to a “sell” rating in a research report on Saturday, October 17th. Finally, Wells Fargo & Company cut their target price on shares of Praxis Precision Medicines from $362.00 to $343.00 and set an “equal weight” rating for the company in a research note on Tuesday. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Praxis Precision Medicines presently has an average rating of “Moderate Buy” and a consensus target price of $631.68.

Praxis Precision Medicines Price Performance

Shares of Praxis Precision Medicines stock opened at $324.76 on Tuesday. Praxis Precision Medicines has a 1 year low of $160.11 and a 1 year high of $392.70. The company has a market capitalization of $9.08 billion, a P/E ratio of -25.37 and a beta of 2.85. The business has a 50 day moving average price of $290.44 and a 200 day moving average price of $314.31.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its earnings results on Monday, November 9th. The company reported ($3.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($3.54) by $0.31. As a group, research analysts expect that Praxis Precision Medicines will post -13.98 EPS for the current fiscal year.

Institutional Investors Weigh In On Praxis Precision Medicines

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC acquired a new stake in Praxis Precision Medicines during the 2nd quarter worth approximately $38,000. Parallel Advisors LLC boosted its position in shares of Praxis Precision Medicines by 3,000.0% in the first quarter. Parallel Advisors LLC now owns 124 shares of the company’s stock worth $40,000 after buying an additional 120 shares during the period. IFP Advisors Inc grew its stake in shares of Praxis Precision Medicines by 632.0% in the third quarter. IFP Advisors Inc now owns 183 shares of the company’s stock valued at $53,000 after buying an additional 158 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Praxis Precision Medicines by 10.3% in the second quarter. GAMMA Investing LLC now owns 332 shares of the company’s stock valued at $111,000 after buying an additional 31 shares in the last quarter. Finally, Provenance Wealth Advisors LLC purchased a new stake in shares of Praxis Precision Medicines during the 3rd quarter valued at about $128,000. 67.84% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Praxis Precision Medicines

Investors following PRAX have been watching these stories:

• Positive Sentiment: At its Investor Day, Praxis outlined launch preparations for relutrigine and ulixacaltamide, with FDA target action dates of December 27, 2026, and January 29, 2027, respectively. The company also discussed its expanded pipeline, giving investors near-term regulatory milestones and potential commercial catalysts to watch. Investor Day announcement
• Positive Sentiment: HC Wainwright raised its 2026 EPS estimate, projecting a smaller loss of $13.45 per share versus its prior $14.09 estimate, and maintained a Buy rating. BTIG and RBC Capital also issued Buy ratings, while RBC and Wedbush were reported as forecasting strong share-price appreciation. Analyst estimate update BTIG rating RBC rating
• Negative Sentiment: Wells Fargo cut its price target on PRAX, a counterpoint to the recent Buy ratings and estimate increase. The available report does not specify the revised target or rationale. Wells Fargo price-target report

Praxis Precision Medicines Company Profile

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on developing treatments for neurological and psychiatric disorders. The company applies neuroscience and precision-medicine research to conditions involving abnormalities in brain circuits and neuronal activity. Its investigational programs have included small-molecule therapies for disorders such as essential tremor and epilepsy, as well as genetic-medicine approaches for certain rare neurological conditions. These candidates are in development and are not approved treatments.