Praxis Precision Medicines (NASDAQ:PRAX) Sets New 12-Month High on Analyst Upgrade

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) reached a new 52-week high during trading on Friday after Truist Financial raised their price target on the stock from $500.00 to $700.00. Truist Financial currently has a buy rating on the stock. Praxis Precision Medicines traded as high as $348.73 and last traded at $347.25, with a volume of 323594 shares traded. The stock had previously closed at $331.61.

Other analysts also recently issued research reports about the stock. Wedbush upped their price target on shares of Praxis Precision Medicines from $95.00 to $130.00 and gave the company an “underperform” rating in a research report on Friday. Guggenheim reissued a “buy” rating and set a $800.00 target price (up from $760.00) on shares of Praxis Precision Medicines in a research report on Tuesday, February 10th. HC Wainwright reaffirmed a “buy” rating and set a $1,245.00 price target (up previously from $340.00) on shares of Praxis Precision Medicines in a research note on Friday, January 30th. Wells Fargo & Company set a $305.00 price target on Praxis Precision Medicines in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $412.00 target price on shares of Praxis Precision Medicines in a research note on Friday. Three equities research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $580.88.

Key Praxis Precision Medicines News

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

• Positive Sentiment: Truist raised its price target sharply to $700 and kept a Buy rating, implying substantial upside vs. current levels — this signals strong analyst conviction and likely buying interest. Article Title
• Positive Sentiment: Praxis filed two NDAs with the FDA — ulixacaltamide for essential tremor (ET) and relutrigine for SCN2A/SCN8A DEEs — a major de‑risking step that could unlock commercial value and future revenue streams if approved. Corporate update and 2025 results
• Positive Sentiment: Guggenheim recently raised its price target (to $800) and reiterated a Buy, reflecting bullish expectations for ulixacaltamide’s market potential — another vote of confidence from a major shop that supports momentum. Analyst confidence article
• Neutral Sentiment: Wells Fargo initiated coverage with an Equal Weight and $282 target, offering a more tempered view that suggests upside is not unanimous and that investors should weigh valuation/clinical execution risks. Wells Fargo coverage
• Negative Sentiment: Q4 EPS missed consensus: PRAX reported a loss of ($3.50) vs. the expected ($3.00), highlighting ongoing cash burn and near‑term profitability risks that could weigh on sentiment despite pipeline progress. Earnings release and call
• Negative Sentiment: Wedbush raised its target to $130 but maintained an Underperform rating — the low target and negative stance underscore divergent analyst views and present downside risk if bullish approvals/launch assumptions falter. Wedbush note

Institutional Investors Weigh In On Praxis Precision Medicines

A number of large investors have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its stake in Praxis Precision Medicines by 88.3% during the second quarter. Nisa Investment Advisors LLC now owns 629 shares of the company’s stock worth $26,000 after buying an additional 295 shares during the last quarter. CWM LLC increased its holdings in Praxis Precision Medicines by 877.9% in the second quarter. CWM LLC now owns 753 shares of the company’s stock worth $32,000 after purchasing an additional 676 shares in the last quarter. NBC Securities Inc. acquired a new position in Praxis Precision Medicines in the fourth quarter valued at approximately $38,000. Danske Bank A S bought a new position in shares of Praxis Precision Medicines during the 4th quarter worth approximately $59,000. Finally, GAMMA Investing LLC boosted its stake in Praxis Precision Medicines by 58.7% during the fourth quarter. GAMMA Investing LLC now owns 238 shares of the company’s stock worth $70,000 after acquiring an additional 88 shares in the last quarter. Institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Trading Up 4.4%

The business has a 50-day moving average of $299.27 and a 200 day moving average of $176.28. The firm has a market capitalization of $8.72 billion, a P/E ratio of -26.62 and a beta of 2.84.

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

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.