4,201 Shares of Praxis Precision Medicines, Inc. $PRAX Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) in the third quarter, Holdings Channel.com reports. The firm purchased 4,201 shares of the company’s stock, valued at approximately $1,223,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Seven Fleet Capital Management LP bought a new stake in shares of Praxis Precision Medicines in the 2nd quarter valued at approximately $2,524,000. Readystate Asset Management LP acquired a new position in Praxis Precision Medicines in the second quarter worth approximately $3,531,000. Swiss National Bank increased its holdings in Praxis Precision Medicines by 15.3% in the first quarter. Swiss National Bank now owns 46,700 shares of the company’s stock worth $15,046,000 after buying an additional 6,200 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Praxis Precision Medicines in the second quarter worth approximately $2,698,000. Finally, Orbimed Advisors LLC raised its position in Praxis Precision Medicines by 82.5% during the first quarter. Orbimed Advisors LLC now owns 172,500 shares of the company’s stock valued at $55,578,000 after acquiring an additional 78,000 shares in the last quarter. 67.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PRAX shares. JPMorgan Chase & Co. began coverage on shares of Praxis Precision Medicines in a research note on Friday, October 16th. They issued an “overweight” rating and a $700.00 target price for the company. BTIG Research boosted their target price on shares of Praxis Precision Medicines from $810.00 to $826.00 and gave the stock a “buy” rating in a research report on Tuesday, October 6th. HC Wainwright restated a “buy” rating and set a $1,201.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, October 15th. UBS Group started coverage on shares of Praxis Precision Medicines in a report on Wednesday, October 14th. They set a “buy” rating and a $706.00 price target on the stock. Finally, Robert W. Baird set a $514.00 price objective on shares of Praxis Precision Medicines in a research note on Friday, August 7th. Three research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $630.42.

Praxis Precision Medicines Stock Performance

PRAX opened at $277.62 on Monday. The company has a market cap of $7.75 billion, a PE ratio of -21.47 and a beta of 2.85. The stock has a 50-day moving average of $291.73 and a 200-day moving average of $313.72. Praxis Precision Medicines, Inc. has a 52-week low of $159.74 and a 52-week high of $392.70.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings data on Thursday, August 6th. The company reported ($2.87) EPS for the quarter, beating analysts’ consensus estimates of ($3.67) by $0.80. On average, research analysts predict that Praxis Precision Medicines, Inc. will post -14.15 earnings per share for the current year.

Praxis Precision Medicines 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.