1 week Ago By ABMN Staff
Norges Bank bought a new position in Praxis Precision Medicines, Inc. ( NASDAQ:PRAX – Free Report ) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 118,900 shares of the company’s stock, valued at approximately $9,151,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. CIBC Asset Management Inc boosted its position in Praxis Precision Medicines by 47.3% during the 4th quarter.
CIBC Asset Management Inc now owns 366,756 shares of the company’s stock worth $28,226,000 after acquiring an additional 117,817 shares during the period. Barclays PLC lifted its position in shares of Praxis Precision Medicines by 126.8% in the third quarter.
Barclays PLC now owns 37,130 shares of the company’s stock worth $2,136,000 after purchasing an additional 20,759 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Praxis Precision Medicines by 85.
6% during the third quarter. Franklin Resources Inc. now owns 445,233 shares of the company’s stock worth $25,619,000 after purchasing an additional 205,335 shares during the period.
BNP Paribas Financial Markets grew its position in Praxis Precision Medicines by 369.4% during the third quarter. BNP Paribas Financial Markets now owns 9,525 shares of the company’s stock valued at $548,000 after purchasing an additional 7,496 shares in the last quarter.
Finally, China Universal Asset Management Co. Ltd. acquired a new position in Praxis Precision Medicines in the 4th quarter valued at approximately $304,000.
Hedge funds and other institutional investors own 67.84% of the company’s stock. Wall Street Analyst Weigh In PRAX has been the topic of several research analyst reports.
Truist Financial lowered their price target on shares of Praxis Precision Medicines from $175.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, March 3rd.
Needham & Company LLC restated a “buy” rating and issued a $85.00 target price on shares of Praxis Precision Medicines in a research note on Tuesday. Robert W.
Baird cut their price target on Praxis Precision Medicines from $117.00 to $73.00 and set an “outperform” rating for the company in a research note on Monday, March 3rd.
HC Wainwright lowered their price target on Praxis Precision Medicines from $120.00 to $105.00 and set a “buy” rating for the company in a research note on Monday, March 3rd.
Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Praxis Precision Medicines in a research report on Tuesday, February 11th. They set a “buy” rating and a $111.00 price objective on the stock.
One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.
33. Praxis Precision Medicines Stock Performance Shares of PRAX stock opened at $28.60 on Wednesday.
The stock’s 50 day simple moving average is $54.74 and its 200 day simple moving average is $65.89.
Praxis Precision Medicines, Inc. has a twelve month low of $28.33 and a twelve month high of $91.
83. The company has a market capitalization of $576.66 million, a price-to-earnings ratio of -2.
78 and a beta of 2.66. Praxis Precision Medicines ( NASDAQ:PRAX – Get Free Report ) last announced its quarterly earnings results on Friday, February 28th.
The company reported ($2.94) EPS for the quarter, missing the consensus estimate of ($2.76) by ($0.
18). Praxis Precision Medicines had a negative net margin of 9,409.22% and a negative return on equity of 54.
86%. The company had revenue of $7.48 million for the quarter, compared to analyst estimates of $0.
36 million. On average, analysts forecast that Praxis Precision Medicines, Inc. will post -10.
22 EPS for the current fiscal year. Praxis Precision Medicines Company Profile ( Free Report ) Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, engages in the development of therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance. It is developing ulixacaltamide, a small molecule inhibitor of T-type calcium channels that is in Phase III clinical trial for the treatment of essential tremor; PRAX-562 for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEE); and PRAX-628 to treat focal epilepsy.
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