Wedbush Issues Positive Forecast for Praxis Precision Medicines (NASDAQ:PRAX) Stock Price

Praxis Precision Medicines (NASDAQ:PRAX) had its price target lifted by Wedbush from $130.00 to $166.00 in a research note published on Friday morning, Marketbeat reports. The brokerage currently has an underperform rating on the stock.

A number of other analysts also recently issued reports on the company. HC Wainwright reissued a “buy” rating and issued a $1,245.00 target price on shares of Praxis Precision Medicines in a research report on Tuesday, April 7th. BTIG Research reaffirmed a “buy” rating and set a $843.00 price target on shares of Praxis Precision Medicines in a research report on Friday. Truist Financial upgraded Praxis Precision Medicines to a “strong-buy” rating in a research note on Wednesday, March 25th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $437.00 price objective on shares of Praxis Precision Medicines in a report on Wednesday, April 15th. Finally, Needham & Company LLC restated a “buy” rating and issued a $510.00 price objective on shares of Praxis Precision Medicines in a research note on Tuesday, April 14th. Five research 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 assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $591.83.

Praxis Precision Medicines Stock Performance

Shares of PRAX stock opened at $330.02 on Friday. Praxis Precision Medicines has a 52 week low of $35.21 and a 52 week high of $356.00. The company has a 50-day simple moving average of $317.78 and a 200 day simple moving average of $277.56. The company has a market capitalization of $9.20 billion, a price-to-earnings ratio of -24.68 and a beta of 2.76.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($3.20) EPS for the quarter, beating the consensus estimate of ($3.58) by $0.38. Sell-side analysts forecast that Praxis Precision Medicines will post -14.88 EPS for the current year.

Institutional Investors Weigh In On Praxis Precision Medicines

Institutional investors have recently made changes to their positions in the stock. NBC Securities Inc. purchased a new position in shares of Praxis Precision Medicines in the fourth quarter valued at $38,000. Parallel Advisors LLC lifted its holdings in Praxis Precision Medicines by 3,000.0% during the 1st quarter. Parallel Advisors LLC now owns 124 shares of the company’s stock worth $40,000 after purchasing an additional 120 shares in the last quarter. Danske Bank A S bought a new position in Praxis Precision Medicines in the 4th quarter worth about $59,000. GAMMA Investing LLC boosted its stake in Praxis Precision Medicines by 58.7% in the 4th quarter. GAMMA Investing LLC now owns 238 shares of the company’s stock worth $70,000 after purchasing an additional 88 shares during the period. Finally, Tower Research Capital LLC TRC grew 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 valued at $77,000 after buying an additional 359 shares in the last quarter. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Trending Headlines about Praxis Precision Medicines

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

• Positive Sentiment: The company reported first-quarter 2026 results with a smaller-than-expected loss, as EPS of ($3.20) beat estimates of ($3.58), which can help reassure investors ahead of future commercialization. Praxis earnings report
• Positive Sentiment: Praxis said the FDA accepted NDA filings for ulixacaltamide in essential tremor and relutrigine in SCN2A/SCN8A developmental and epileptic encephalopathies, giving the pipeline clearer regulatory timelines and potential catalysts in 2026-2027. Corporate update and Q1 2026 results
• Neutral Sentiment: BTIG reiterated a Buy rating and raised its price target sharply to $843, signaling strong long-term optimism even after the stock’s recent run-up. BTIG research update
• Negative Sentiment: Wedbush raised its target to $166 but kept an Underperform rating, highlighting meaningful downside risk versus the current share price and creating a conflicting message for investors. Wedbush rating update
• Neutral Sentiment: A Globe and Mail article noted analysts are bullish on Praxis alongside other healthcare names, adding to the broader positive attention on the stock. Analysts bullish on PRAX

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.