Praxis Precision Medicines (NASDAQ:PRAX) Sets New 1-Year High Following Analyst Upgrade

Praxis Precision Medicines, Inc. (NASDAQ:PRAX)’s stock price hit 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.

PRAX has been the subject of a number of other research reports. Guggenheim reiterated a “buy” rating and set a $800.00 price objective (up previously from $760.00) on shares of Praxis Precision Medicines in a research report on Tuesday, February 10th. Needham & Company LLC lifted their target price on Praxis Precision Medicines from $460.00 to $510.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Oppenheimer reiterated an “outperform” rating and issued a $750.00 price target (up previously from $250.00) on shares of Praxis Precision Medicines in a research report on Monday, December 15th. Robert W. Baird set a $433.00 price target on Praxis Precision Medicines in a report on Friday. Finally, Wells Fargo & Company set a $305.00 price objective on Praxis Precision Medicines in a research report on Friday. Three 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’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $580.88.

Key Stories Impacting Praxis Precision Medicines

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 Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Janus Henderson Group PLC increased its holdings in Praxis Precision Medicines by 17.2% in the 4th quarter. Janus Henderson Group PLC now owns 3,240,086 shares of the company’s stock worth $954,834,000 after purchasing an additional 476,227 shares in the last quarter. Perceptive Advisors LLC lifted its holdings in Praxis Precision Medicines by 27.6% during the fourth quarter. Perceptive Advisors LLC now owns 1,995,986 shares of the company’s stock worth $588,297,000 after acquiring an additional 431,432 shares during the period. Adage Capital Partners GP L.L.C. grew its position in shares of Praxis Precision Medicines by 13.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,974,585 shares of the company’s stock valued at $83,031,000 after acquiring an additional 231,827 shares during the period. Vanguard Group Inc. raised its holdings in shares of Praxis Precision Medicines by 15.3% in the 4th quarter. Vanguard Group Inc. now owns 1,460,933 shares of the company’s stock worth $430,595,000 after purchasing an additional 193,647 shares during the period. Finally, Orbis Allan Gray Ltd purchased a new position in Praxis Precision Medicines in the fourth quarter valued at approximately $369,946,000. 67.84% of the stock is owned by institutional investors and hedge funds.

Praxis Precision Medicines Price Performance

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

Praxis Precision Medicines (NASDAQ:PRAX) last issued its earnings results 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, equities analysts forecast that Praxis Precision Medicines, Inc. will post -10.22 earnings per share for the current fiscal 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.