Praxis Precision Medicines (NASDAQ:PRAX) Price Target Raised to $166.00

Praxis Precision Medicines (NASDAQ:PRAX) had its price objective boosted by Wedbush from $130.00 to $166.00 in a research note published on Friday, Marketbeat reports. They currently have an underperform rating on the stock.

Several other equities research analysts have also recently commented on PRAX. Piper Sandler reaffirmed an “overweight” rating and issued a $1,200.00 price objective (up from $450.00) on shares of Praxis Precision Medicines in a research report on Wednesday, January 28th. Raymond James Financial started coverage on shares of Praxis Precision Medicines in a research report on Friday, April 10th. They issued a “strong-buy” rating and a $815.00 price objective on the stock. TD Cowen reissued a “buy” rating on shares of Praxis Precision Medicines in a research report on Thursday, January 29th. Truist Financial raised shares of Praxis Precision Medicines to a “strong-buy” rating in a research report on Wednesday, March 25th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $437.00 price target on shares of Praxis Precision Medicines in a research report on Wednesday, April 15th. Five investment analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $591.83.

Praxis Precision Medicines Stock Performance

PRAX opened at $330.02 on Friday. The stock has a market capitalization of $9.20 billion, a P/E ratio of -24.68 and a beta of 2.76. Praxis Precision Medicines has a 12 month low of $35.21 and a 12 month high of $356.00. The firm’s fifty day simple moving average is $317.78 and its 200 day simple moving average is $277.56.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($3.20) EPS for the quarter, beating the consensus estimate of ($3.58) by $0.38. On average, equities research analysts predict that Praxis Precision Medicines will post -15.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Praxis Precision Medicines

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its position in Praxis Precision Medicines by 33.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 953 shares of the company’s stock worth $307,000 after buying an additional 239 shares in the last quarter. Carl P. Sherr & Co. LLC increased its stake in shares of Praxis Precision Medicines by 8.4% during the 1st quarter. Carl P. Sherr & Co. LLC now owns 972 shares of the company’s stock worth $313,000 after purchasing an additional 75 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Praxis Precision Medicines by 32.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 31,161 shares of the company’s stock worth $10,040,000 after purchasing an additional 7,618 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Praxis Precision Medicines by 3,000.0% during the 1st quarter. Parallel Advisors LLC now owns 124 shares of the company’s stock worth $40,000 after purchasing an additional 120 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of Praxis Precision Medicines by 5.8% during 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 last quarter. 67.84% of the stock is owned by institutional investors.

Trending Headlines about Praxis Precision Medicines

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

• Positive Sentiment: The company reported first-quarter 2026 results with a smaller-than-expected loss, as EPS of ($3.20) beat estimates of ($3.58), which can help reassure investors ahead of future commercialization. Praxis earnings report
• Positive Sentiment: Praxis said the FDA accepted NDA filings for ulixacaltamide in essential tremor and relutrigine in SCN2A/SCN8A developmental and epileptic encephalopathies, giving the pipeline clearer regulatory timelines and potential catalysts in 2026-2027. Corporate update and Q1 2026 results
• Neutral Sentiment: BTIG reiterated a Buy rating and raised its price target sharply to $843, signaling strong long-term optimism even after the stock’s recent run-up. BTIG research update
• Negative Sentiment: Wedbush raised its target to $166 but kept an Underperform rating, highlighting meaningful downside risk versus the current share price and creating a conflicting message for investors. Wedbush rating update
• Neutral Sentiment: A Globe and Mail article noted analysts are bullish on Praxis alongside other healthcare names, adding to the broader positive attention on the stock. Analysts bullish on PRAX

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.