Praxis Precision Medicines, Inc. $PRAX Shares Purchased by Rafferty Asset Management LLC

Rafferty Asset Management LLC boosted its position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 51.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 37,573 shares of the company’s stock after acquiring an additional 12,768 shares during the period. Rafferty Asset Management LLC’s holdings in Praxis Precision Medicines were worth $1,991,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its position in shares of Praxis Precision Medicines by 88.3% during the 2nd 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 last quarter. Tower Research Capital LLC TRC lifted its holdings in Praxis Precision Medicines by 24.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,837 shares of the company’s stock worth $77,000 after buying an additional 359 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its position in shares of Praxis Precision Medicines by 6.4% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 6,425 shares of the company’s stock worth $270,000 after acquiring an additional 385 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 acquiring an additional 573 shares during the last quarter. Finally, CWM LLC raised its position in shares of Praxis Precision Medicines by 877.9% during the 2nd quarter. CWM LLC now owns 753 shares of the company’s stock worth $32,000 after acquiring an additional 676 shares in the last quarter. 67.84% of the stock is owned by hedge funds and other institutional investors.

Praxis Precision Medicines Price Performance

PRAX stock opened at $310.58 on Friday. The company has a market cap of $8.65 billion, a price-to-earnings ratio of -23.07 and a beta of 2.86. The company has a fifty day moving average price of $311.12 and a 200 day moving average price of $196.09. Praxis Precision Medicines, Inc. has a 12 month low of $26.70 and a 12 month high of $356.00.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings data 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, analysts anticipate that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Oppenheimer reaffirmed an “outperform” rating and issued a $750.00 price target (up from $250.00) on shares of Praxis Precision Medicines in a report on Monday, December 15th. BTIG Research restated a “buy” rating and issued a $843.00 target price (up from $507.00) on shares of Praxis Precision Medicines in a report on Monday, December 29th. Wells Fargo & Company set a $305.00 target price on shares of Praxis Precision Medicines and gave the company an “equal weight” rating in a research report on Friday, February 20th. Robert W. Baird set a $433.00 price target on shares of Praxis Precision Medicines and gave the company an “outperform” rating in a research report on Friday, February 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $1,200.00 price objective (up from $450.00) on shares of Praxis Precision Medicines in a report on Wednesday, January 28th. Three equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Praxis Precision Medicines has a consensus rating of “Moderate Buy” and an average target price of $576.12.

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.