Praxis Precision Medicines (NASDAQ:PRAX) Now Covered by Deutsche Bank Aktiengesellschaft

Deutsche Bank Aktiengesellschaft started coverage on shares of Praxis Precision Medicines (NASDAQ:PRAX) in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $111.00 price target on the stock.

Other analysts have also recently issued reports about the company. Oppenheimer raised their price target on Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a report on Thursday, October 31st. HC Wainwright reissued a “buy” rating and issued a $120.00 target price on shares of Praxis Precision Medicines in a report on Thursday, December 12th. Truist Financial upped their price target on shares of Praxis Precision Medicines from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $150.00 price objective on shares of Praxis Precision Medicines in a research note on Monday. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $145.20.

Praxis Precision Medicines Stock Down 0.7 %

NASDAQ PRAX opened at $84.24 on Tuesday. The stock has a market capitalization of $1.57 billion, a P/E ratio of -8.18 and a beta of 2.65. Praxis Precision Medicines has a 52-week low of $33.01 and a 52-week high of $90.33. The firm has a 50-day moving average price of $75.36 and a 200 day moving average price of $67.90.

Insider Buying and Selling at Praxis Precision Medicines

In other news, insider Lauren Mastrocola sold 5,188 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $81.78, for a total value of $424,274.64. Following the sale, the insider now directly owns 5,613 shares in the company, valued at $459,031.14. This represents a 48.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Alex Nemiroff sold 8,239 shares of Praxis Precision Medicines stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $80.20, for a total value of $660,767.80. Following the transaction, the general counsel now owns 10,301 shares of the company’s stock, valued at $826,140.20. This represents a 44.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.70% of the stock is currently owned by insiders.

Institutional Trading of Praxis Precision Medicines

A number of large investors have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Praxis Precision Medicines in the 4th quarter valued at about $48,000. US Bancorp DE raised its position in shares of Praxis Precision Medicines by 35.9% in the third quarter. US Bancorp DE now owns 2,289 shares of the company’s stock valued at $132,000 after buying an additional 605 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Praxis Precision Medicines during the fourth quarter valued at approximately $215,000. Fox Run Management L.L.C. purchased a new position in shares of Praxis Precision Medicines during the fourth quarter valued at approximately $246,000. Finally, Intech Investment Management LLC acquired a new stake in Praxis Precision Medicines during the third quarter worth approximately $217,000. Institutional investors and hedge funds own 67.84% of the company’s stock.

About Praxis Precision Medicines

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.