Praxis Precision Medicines (NASDAQ:PRAX) Given New $700.00 Price Target at Truist Financial

Praxis Precision Medicines (NASDAQ:PRAX) had its price target increased by Truist Financial from $500.00 to $700.00 in a report issued on Friday, Marketbeat Ratings reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Robert W. Baird set a $433.00 price target on shares of Praxis Precision Medicines and gave the stock an “outperform” rating in a research note on Friday. Chardan Capital upgraded shares of Praxis Precision Medicines to a “strong-buy” rating in a research report on Wednesday, November 19th. BTIG Research restated a “buy” rating and set a $843.00 price target (up previously from $507.00) on shares of Praxis Precision Medicines in a research report on Monday, December 29th. Needham & Company LLC upped their price objective on Praxis Precision Medicines from $460.00 to $510.00 and gave the stock a “buy” rating in a report on Wednesday, February 4th. Finally, Wells Fargo & Company set a $305.00 price objective on Praxis Precision Medicines and gave the company an “equal weight” rating in a research report on Friday. Three analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, Praxis Precision Medicines currently has an average rating of “Moderate Buy” and an average target price of $580.88.

Praxis Precision Medicines Trading Up 1.1%

Shares of Praxis Precision Medicines stock opened at $335.28 on Friday. The company’s 50-day moving average price is $300.60 and its 200-day moving average price is $178.26. Praxis Precision Medicines has a 12-month low of $26.70 and a 12-month high of $349.32. The company has a market cap of $8.45 billion, a price-to-earnings ratio of -24.91 and a beta of 2.84.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its earnings results on Thursday, February 19th. The company reported ($3.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($3.00) by ($0.50). On average, sell-side analysts predict that Praxis Precision Medicines will post -10.22 earnings per share for the current year.

Institutional Investors Weigh In On Praxis Precision Medicines

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

Key Praxis Precision Medicines News

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

• Positive Sentiment: Company filed two NDAs — Praxis submitted NDAs to the FDA for ulixacaltamide (essential tremor) and relutrigine (SCN2A/SCN8A DEEs), a major regulatory milestone that materially de-risks timing to potential approvals and commercial launch. GlobeNewswire: Corporate Update & 2025 Results
• Positive Sentiment: Strong analyst bullishness — Truist raised its price target to $700 and kept a Buy rating, signaling confidence in commercial potential (large upside vs. current levels); other firms (e.g., Guggenheim) have also raised targets into the high hundreds. These upgrades support demand from growth-oriented investors. The Fly: Truist PT Raise
• Neutral Sentiment: Analyst confidence narratives — Several write-ups highlight ulixacaltamide as the valuation driver and list large addressable markets; these pieces buoy sentiment but are forward-looking and hinge on FDA review/outcomes. Yahoo Finance: Analyst Confidence
• Neutral Sentiment: Corporate update and earnings call — Management provided Q4/2025 results and a corporate update; call highlights and the company’s pipeline/regulatory timeline were reviewed, which investors parsed for approval timelines and cash runway. Yahoo Finance: Q4 Call Highlights
• Negative Sentiment: Q4 earnings miss — Praxis reported EPS of ($3.50), missing consensus (~($3.00)), which can pressure the stock by highlighting higher near-term spend and delays to profitability despite pipeline progress. MarketBeat: Q4 EPS Miss
• Negative Sentiment: Mixed / cautious research — Wedbush raised its PT but kept an Underperform rating (PT $130), and Wells Fargo initiated with an Equal Weight/$282 PT, underscoring that some analysts see valuation/near-term execution risk despite regulatory progress. Those views can create selling pressure from more conservative holders. The Fly: Wedbush PT & Rating

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.