Barclays PLC Buys 454,114 Shares of Praxis Precision Medicines, Inc. $PRAX

Barclays PLC lifted its holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 592.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 530,751 shares of the company’s stock after buying an additional 454,114 shares during the period. Barclays PLC’s holdings in Praxis Precision Medicines were worth $156,434,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PRAX. GF Fund Management CO. LTD. grew its stake in shares of Praxis Precision Medicines by 8.2% in the 4th quarter. GF Fund Management CO. LTD. now owns 490 shares of the company’s stock valued at $144,000 after buying an additional 37 shares during the period. GAMMA Investing LLC raised its holdings in shares of Praxis Precision Medicines by 58.7% in the 4th quarter. GAMMA Investing LLC now owns 238 shares of the company’s stock worth $70,000 after purchasing an additional 88 shares during the period. CWM LLC raised its holdings in Praxis Precision Medicines by 15.5% during the 4th quarter. CWM LLC now owns 874 shares of the company’s stock valued at $258,000 after acquiring an additional 117 shares during the period. NBC Securities Inc. bought a new stake in Praxis Precision Medicines during the 4th quarter valued at $38,000. Finally, Farther Finance Advisors LLC grew its position in shares of Praxis Precision Medicines by 60.0% during the 4th quarter. Farther Finance Advisors LLC now owns 368 shares of the company’s stock valued at $108,000 after purchasing an additional 138 shares in the last quarter. 67.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. HC Wainwright reduced their price target on shares of Praxis Precision Medicines from $1,245.00 to $1,201.00 and set a “buy” rating for the company in a research report on Tuesday, June 2nd. Wolfe Research assumed coverage on shares of Praxis Precision Medicines in a research report on Monday, February 23rd. They issued an “outperform” rating and a $500.00 target price for the company. Oppenheimer reiterated an “outperform” rating and issued a $650.00 target price (down from $750.00) on shares of Praxis Precision Medicines in a research report on Tuesday, June 2nd. Truist Financial set a $616.00 target price on shares of Praxis Precision Medicines and gave the stock a “buy” rating in a research report on Tuesday, June 2nd. Finally, Robert W. Baird cut their target price on shares of Praxis Precision Medicines from $433.00 to $400.00 and set an “outperform” rating for the company in a research report on Tuesday, June 2nd. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $572.72.

Praxis Precision Medicines Trading Down 0.8%

Shares of NASDAQ:PRAX opened at $264.54 on Tuesday. The company has a market cap of $7.38 billion, a price-to-earnings ratio of -19.79 and a beta of 2.71. The company has a 50-day moving average price of $318.40 and a 200-day moving average price of $301.91. Praxis Precision Medicines, Inc. has a 12 month low of $37.19 and a 12 month high of $366.52.

Praxis Precision Medicines (NASDAQ:PRAX) last issued 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. As a group, research analysts forecast that Praxis Precision Medicines, Inc. will post -14.79 EPS 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.