Raymond James & Associates Raises Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Raymond James & Associates lifted its stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 118,294 shares of the company’s stock after acquiring an additional 1,971 shares during the quarter. Raymond James & Associates’ holdings in Praxis Precision Medicines were worth $2,187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PRAX. Royal Bank of Canada boosted its holdings in Praxis Precision Medicines by 93.6% in the second quarter. Royal Bank of Canada now owns 1,673 shares of the company’s stock valued at $31,000 after purchasing an additional 809 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in Praxis Precision Medicines by 106.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,912 shares of the company’s stock worth $35,000 after buying an additional 988 shares during the last quarter. Legal & General Group Plc lifted its holdings in Praxis Precision Medicines by 156.7% during the 2nd quarter. Legal & General Group Plc now owns 2,952 shares of the company’s stock worth $54,000 after buying an additional 1,802 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in Praxis Precision Medicines by 207,350.0% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 8,298 shares of the company’s stock worth $152,000 after buying an additional 8,294 shares during the last quarter. Finally, Virtus ETF Advisers LLC bought a new position in Praxis Precision Medicines during the 2nd quarter worth approximately $197,000. 96.35% of the stock is owned by hedge funds and other institutional investors.

Shares of Praxis Precision Medicines stock opened at $17.53 on Friday. The business’s 50 day simple moving average is $18.82 and its 200-day simple moving average is $18.81. The stock has a market capitalization of $786.33 million, a price-to-earnings ratio of -5.07 and a beta of 2.42. Praxis Precision Medicines, Inc. has a twelve month low of $12.71 and a twelve month high of $59.48.

Praxis Precision Medicines (NASDAQ:PRAX) last posted its earnings results on Wednesday, November 3rd. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.93) by ($0.07). As a group, research analysts forecast that Praxis Precision Medicines, Inc. will post -3.7 EPS for the current year.

A number of research analysts have commented on the company. Zacks Investment Research raised Praxis Precision Medicines from a “sell” rating to a “hold” rating in a report on Saturday, November 13th. HC Wainwright started coverage on Praxis Precision Medicines in a research report on Thursday, December 16th. They set a “buy” rating and a $48.00 price target on the stock. Finally, Wedbush dropped their price target on Praxis Precision Medicines from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Thursday, November 4th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and an average price target of $40.33.

Praxis Precision Medicines Company Profile

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, develops therapies for central nervous system disorders characterized by neuronal imbalance. Its lead product candidates include PRAX-114, an extrasynaptic-preferring GABAA receptor positive allosteric modulator that is in Phase IIa clinical trial for the treatment of major depressive disorder and perimenopausal depression; and PRAX-944, a selective small molecule inhibitor of T-type calcium channels, which is in Phase IIa clinical trial for the treatment of essential tremor.

See Also: Beta

Want to see what other hedge funds are holding PRAX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Praxis Precision Medicines, Inc. (NASDAQ:PRAX).

Institutional Ownership by Quarter for Praxis Precision Medicines (NASDAQ:PRAX)

Receive News & Ratings for Praxis Precision Medicines Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Praxis Precision Medicines and related companies with MarketBeat.com's FREE daily email newsletter.