Artia Global Partners LP Acquires Shares of 2,500 Praxis Precision Medicines, Inc. $PRAX

Artia Global Partners LP purchased a new stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,500 shares of the company’s stock, valued at approximately $737,000.

Several other hedge funds and other institutional investors also recently modified their holdings of PRAX. Orbis Allan Gray Ltd bought a new position in shares of Praxis Precision Medicines in the 4th quarter valued at $369,946,000. Barclays PLC increased its stake in shares of Praxis Precision Medicines by 592.6% in the 4th quarter. Barclays PLC now owns 530,751 shares of the company’s stock valued at $156,434,000 after purchasing an additional 454,114 shares during the last quarter. Baker BROS. Advisors LP increased its stake in shares of 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 valued at $332,021,000 after purchasing an additional 437,000 shares during the last quarter. RA Capital Management L.P. bought a new position in shares of Praxis Precision Medicines in the 4th quarter valued at $110,170,000. Finally, Woodline Partners LP increased its stake in shares of Praxis Precision Medicines by 808.9% in the 3rd quarter. Woodline Partners LP now owns 417,669 shares of the company’s stock valued at $22,136,000 after purchasing an additional 371,717 shares during the last quarter. Institutional investors own 67.84% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PRAX. Wells Fargo & Company set a $305.00 price target on Praxis Precision Medicines and gave the company an “equal weight” rating in a research note on Friday, February 20th. Royal Bank Of Canada assumed coverage on Praxis Precision Medicines in a research note on Wednesday. They issued an “outperform” rating and a $449.00 price target on the stock. Jefferies Financial Group restated a “buy” rating on shares of Praxis Precision Medicines in a research report on Thursday, May 7th. Raymond James Financial assumed coverage on Praxis Precision Medicines in a research report on Friday, April 10th. They set a “strong-buy” rating and a $815.00 price objective on the stock. Finally, TD Cowen restated a “buy” rating on shares of Praxis Precision Medicines in a research report on Tuesday, June 2nd. Four analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $566.21.

Praxis Precision Medicines Trading Up 5.0%

Shares of PRAX opened at $270.01 on Thursday. The company has a market capitalization of $7.53 billion, a PE ratio of -20.20 and a beta of 2.71. Praxis Precision Medicines, Inc. has a 12 month low of $37.19 and a 12 month high of $366.52. The stock’s 50-day moving average price is $316.54 and its two-hundred day moving average price is $302.97.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its earnings results on Thursday, May 7th. The company reported ($3.20) EPS for the quarter, topping the consensus estimate of ($3.58) by $0.38. Equities research analysts predict that Praxis Precision Medicines, Inc. will post -14.79 EPS for the current fiscal year.

Praxis Precision Medicines 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.