Janus Henderson Group PLC Increases Stake in Praxis Precision Medicines, Inc. $PRAX

Janus Henderson Group PLC increased its position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 17.2% in the 4th quarter, HoldingsChannel reports. The fund owned 3,240,086 shares of the company’s stock after purchasing an additional 476,227 shares during the period. Janus Henderson Group PLC owned 0.13% of Praxis Precision Medicines worth $954,834,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Artia Global Partners LP purchased a new stake in Praxis Precision Medicines in the 4th quarter worth about $737,000. Baker BROS. Advisors LP increased its holdings in Praxis Precision Medicines by 63.4% in the 4th quarter. Baker BROS. Advisors LP now owns 1,126,488 shares of the company’s stock worth $332,021,000 after acquiring an additional 437,000 shares during the last quarter. ACT Capital Management LLC purchased a new stake in Praxis Precision Medicines in the 4th quarter worth about $206,000. Logos Global Management LP increased its holdings in Praxis Precision Medicines by 200.0% in the 4th quarter. Logos Global Management LP now owns 375,000 shares of the company’s stock worth $110,528,000 after acquiring an additional 250,000 shares during the last quarter. Finally, ADAR1 Capital Management LLC purchased a new stake in Praxis Precision Medicines in the 4th quarter worth about $442,000. Hedge funds and other institutional investors own 67.84% of the company’s stock.

Praxis Precision Medicines Trading Up 5.0%

Shares of NASDAQ PRAX opened at $270.01 on Thursday. Praxis Precision Medicines, Inc. has a 12 month low of $37.19 and a 12 month high of $366.52. The firm has a market capitalization of $7.53 billion, a price-to-earnings ratio of -20.20 and a beta of 2.71. The business has a 50-day moving average of $316.54 and a 200-day moving average of $302.97.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its quarterly earnings data on Thursday, May 7th. The company reported ($3.20) EPS for the quarter, topping the consensus estimate of ($3.58) by $0.38. On average, analysts predict that Praxis Precision Medicines, Inc. will post -14.79 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. HC Wainwright decreased their price objective on Praxis Precision Medicines from $1,245.00 to $1,201.00 and set a “buy” rating for the company in a report on Tuesday, June 2nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Praxis Precision Medicines in a report on Wednesday, May 27th. TD Cowen reaffirmed a “buy” rating on shares of Praxis Precision Medicines in a report on Tuesday, June 2nd. Wolfe Research started coverage on Praxis Precision Medicines in a research report on Monday, February 23rd. They set an “outperform” rating and a $500.00 price target on the stock. Finally, Oppenheimer reiterated an “outperform” rating and set a $650.00 price target (down from $750.00) on shares of Praxis Precision Medicines in a research report on Tuesday, June 2nd. Four investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $566.21.

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.