Praxis Precision Medicines Inc. (NASDAQ:PRAX) shares traded 7.46% higher at $1.44 on Wall Street last session.
In accordance with the data, 5 analysts cover Praxis Precision Medicines Inc. (NASDAQ:PRAX). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $18.00 and a low of $2.00, we find $5.50. Given the previous closing price of $1.34, this indicates a potential upside of 310.45 percent. PRAX stock price is now 33.65% away from the 50-day moving average and -21.32% away from the 200-day moving average. The market capitalization of the company currently stands at $172.20M.
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It has been rated a hold by 1 analysts and a buy by 4. Brokers who have rated the stock have averaged $7.75 as their price target over the next twelve months.
With the price target maintained at $4, Wedbush recently Downgraded its rating from Outperform to Neutral for Praxis Precision Medicines Inc. (NASDAQ: PRAX).
In other news, Souza Marcio, Chief Executive Officer bought 10,000 shares of the company’s stock on Jun 27. The stock was bought for $10,587 at an average price of $1.06. Upon completion of the transaction, the Chief Executive Officer now directly owns 45,002 shares in the company, valued at $64802.88. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 24, Director MITCHELL DEAN J bought 50,000 shares of the business’s stock. A total of $41,815 was incurred on buying the stock at an average price of $0.84. This leaves the insider owning 75,000 shares of the company worth $0.11 million. Insiders disposed of 9,100 shares of company stock worth roughly $13104.0 over the past 1 year. A total of 0.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PRAX stock. A new stake in Praxis Precision Medicines Inc. shares was purchased by CORMORANT ASSET MANAGEMENT, LP during the first quarter worth $13,680,000. SPHERA FUNDS MANAGEMENT LTD. invested $12,621,000 in shares of PRAX during the first quarter. In the first quarter, VR ADVISER, LLC acquired a new stake in Praxis Precision Medicines Inc. valued at approximately $7,638,000. ACUTA CAPITAL PARTNERS, LLC acquired a new stake in PRAX for approximately $6,120,000. SILVERARC CAPITAL MANAGEMENT, LLC purchased a new stake in PRAX valued at around $5,006,000 in the second quarter.
Praxis Precision Medicines Inc. (NASDAQ: PRAX) opened at $1.3200 on Friday. During the past 12 months, Praxis Precision Medicines Inc. has had a low of $0.79 and a high of $5.25. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 5.30, and a quick ratio of 5.30. The fifty day moving average price for PRAX is $1.0861 and a two-hundred day moving average price translates $1.8275 for the stock.
The latest earnings results from Praxis Precision Medicines Inc. (NASDAQ: PRAX) was released for Jun, 2023.
Praxis Precision Medicines Inc.(PRAX) Company Profile
Praxis Precision Medicines, Inc., a clinical-stage biopharmaceutical company, develops 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 IIb clinical trial for the treatment of essential tremor, as well as in Phase II clinical trial to treat Parkinson’s disease; PRAX-562 for the treatment of pediatric patients with developmental and epileptic encephalopathies (DEE); and PRAX-628 to treat focal epilepsy. The company also develops PRAX-222 for the treatment of pediatric patients with early-onset SCN2A-DEE; PRAX-020 to treat KCNT1 related epilepsies; PRAX-080 for the treatment of PCDH19; and PRAX-090 and PRAX-100 for SYNGAP1 and SCN2A-LoF. It has a license agreement with RogCon Inc.; a research collaboration and license agreement with Ionis Pharmaceuticals, Inc.; a strategic collaboration and license agreement with UCB Biopharma SRL; and collaboration with The Florey Institute to develop three novel ASOs. Praxis Precision Medicines, Inc. was incorporated in 2015 and is based in Boston, Massachusetts.
