Praxis Precision Medicines (NASDAQ:PRAX) Price Target Raised to $478.00

Praxis Precision Medicines (NASDAQ:PRAX) had its price objective lifted by Royal Bank Of Canada from $462.00 to $478.00 in a research note released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

PRAX has been the topic of several other research reports. Weiss Ratings restated a “sell (d-)” rating on shares of Praxis Precision Medicines in a report on Monday, August 24th. Piper Sandler reaffirmed an “overweight” rating on shares of Praxis Precision Medicines in a research report on Monday, July 13th. Robert W. Baird set a $514.00 target price on shares of Praxis Precision Medicines in a research note on Friday, August 7th. BTIG Research reissued a “buy” rating and set a $826.00 target price on shares of Praxis Precision Medicines in a research report on Monday. Finally, Raymond James Financial restated a “strong-buy” rating and set a $945.00 price target on shares of Praxis Precision Medicines in a research note on Monday, August 17th. Three investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $631.68.

Praxis Precision Medicines Price Performance

Praxis Precision Medicines stock opened at $324.76 on Tuesday. The stock has a market capitalization of $9.08 billion, a price-to-earnings ratio of -25.37 and a beta of 2.85. Praxis Precision Medicines has a 1-year low of $160.11 and a 1-year high of $392.70. The business has a fifty day moving average price of $290.44 and a 200-day moving average price of $314.31.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its earnings results on Monday, November 9th. The company reported ($3.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($3.54) by $0.31. On average, equities research analysts anticipate that Praxis Precision Medicines will post -13.98 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Praxis Precision Medicines

Several institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of Praxis Precision Medicines by 10.3% during the 2nd quarter. GAMMA Investing LLC now owns 332 shares of the company’s stock valued at $111,000 after acquiring an additional 31 shares during the period. KBC Group NV raised its holdings in Praxis Precision Medicines by 5.8% in the 1st quarter. KBC Group NV now owns 715 shares of the company’s stock worth $230,000 after purchasing an additional 39 shares during the period. Nisa Investment Advisors LLC boosted its position in Praxis Precision Medicines by 0.9% during the third quarter. Nisa Investment Advisors LLC now owns 6,167 shares of the company’s stock worth $1,796,000 after purchasing an additional 56 shares in the last quarter. Carl P. Sherr & Co. LLC boosted its position in Praxis Precision Medicines by 8.4% during the first quarter. Carl P. Sherr & Co. LLC now owns 972 shares of the company’s stock worth $313,000 after purchasing an additional 75 shares in the last quarter. Finally, Ieq Capital LLC boosted its position in Praxis Precision Medicines by 11.5% during the third quarter. Ieq Capital LLC now owns 909 shares of the company’s stock worth $265,000 after purchasing an additional 94 shares in the last quarter. 67.84% of the stock is owned by hedge funds and other institutional investors.

Recent Praxis Precision Medicines Headlines

Here are a few of the latest headlines about PRAX:

• Positive Sentiment: At its Investor Day, Praxis outlined launch preparations for relutrigine and ulixacaltamide, with FDA target action dates of December 27, 2026, and January 29, 2027, respectively. The company also discussed its expanded pipeline, giving investors near-term regulatory milestones and potential commercial catalysts to watch. Investor Day announcement
• Positive Sentiment: HC Wainwright raised its 2026 EPS estimate, projecting a smaller loss of $13.45 per share versus its prior $14.09 estimate, and maintained a Buy rating. BTIG and RBC Capital also issued Buy ratings, while RBC and Wedbush were reported as forecasting strong share-price appreciation. Analyst estimate update BTIG rating RBC rating
• Negative Sentiment: Wells Fargo cut its price target on PRAX, a counterpoint to the recent Buy ratings and estimate increase. The available report does not specify the revised target or rationale. Wells Fargo price-target report

About Praxis Precision Medicines

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. These candidates are in development and are not approved treatments.