SG Americas Securities LLC Acquires New Holdings in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

SG Americas Securities LLC purchased a new position in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,158 shares of the company’s stock, valued at approximately $297,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Amalgamated Bank acquired a new stake in Praxis Precision Medicines during the 2nd quarter valued at approximately $25,000. Quarry LP bought a new position in shares of Praxis Precision Medicines during the 2nd quarter worth about $83,000. Chase Investment Counsel Corp bought a new position in Praxis Precision Medicines in the first quarter worth approximately $229,000. Boulder Hill Capital Management LP acquired a new stake in Praxis Precision Medicines in the 1st quarter valued at $256,000. Finally, Profund Advisors LLC bought a new stake in shares of Praxis Precision Medicines during the second quarter worth about $318,000. 67.84% of the stock is owned by institutional investors.

Praxis Precision Medicines Stock Down 2.3 %

PRAX opened at $73.20 on Friday. The firm has a 50-day moving average price of $58.76 and a 200-day moving average price of $51.93. Praxis Precision Medicines, Inc. has a twelve month low of $13.01 and a twelve month high of $75.73. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -7.14 and a beta of 2.73.

Praxis Precision Medicines (NASDAQ:PRAX) last issued its earnings results on Tuesday, August 13th. The company reported ($1.74) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($2.38) by $0.64. Praxis Precision Medicines had a negative net margin of 6,987.01% and a negative return on equity of 61.47%. The business had revenue of $0.36 million for the quarter, compared to analysts’ expectations of $1.44 million. On average, sell-side analysts expect that Praxis Precision Medicines, Inc. will post -8.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PRAX shares. Wedbush raised their price objective on Praxis Precision Medicines from $40.00 to $48.00 and gave the company a “neutral” rating in a research note on Wednesday, August 14th. Piper Sandler reaffirmed an “overweight” rating and set a $270.00 price target on shares of Praxis Precision Medicines in a research report on Monday, July 1st. Guggenheim boosted their price objective on Praxis Precision Medicines from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. Needham & Company LLC restated a “buy” rating and issued a $145.00 price objective on shares of Praxis Precision Medicines in a research note on Tuesday, September 3rd. Finally, Oppenheimer reiterated an “outperform” rating and set a $143.00 target price (up from $134.00) on shares of Praxis Precision Medicines in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Praxis Precision Medicines has an average rating of “Moderate Buy” and an average price target of $143.44.

Praxis Precision Medicines Company Profile

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.