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

Analysts at Deutsche Bank Aktiengesellschaft began coverage on shares of Praxis Precision Medicines (NASDAQ:PRAX) in a note issued to investors on Tuesday,Briefing.com Automated Import reports. The brokerage set a “buy” rating and a $111.00 price target on the stock. Deutsche Bank Aktiengesellschaft’s price objective would suggest a potential upside of 30.82% from the stock’s current price.

PRAX has been the topic of several other research reports. HC Wainwright restated a “buy” rating and issued a $120.00 price target on shares of Praxis Precision Medicines in a research note on Thursday, December 12th. Truist Financial raised their price target on shares of Praxis Precision Medicines from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Needham & Company LLC restated a “buy” rating and issued a $150.00 price target on shares of Praxis Precision Medicines in a research note on Monday. Finally, Oppenheimer raised their price target on shares of Praxis Precision Medicines from $143.00 to $163.00 and gave the company an “outperform” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Praxis Precision Medicines presently has an average rating of “Moderate Buy” and a consensus price target of $145.20.

Praxis Precision Medicines Stock Down 2.3 %

Shares of NASDAQ PRAX opened at $84.85 on Tuesday. The firm’s 50-day moving average price is $75.12 and its two-hundred day moving average price is $67.72. Praxis Precision Medicines has a 52-week low of $33.01 and a 52-week high of $90.33. The stock has a market capitalization of $1.58 billion, a P/E ratio of -8.24 and a beta of 2.65.

Insider Activity at Praxis Precision Medicines

In related news, General Counsel Alex Nemiroff sold 8,239 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The shares were sold at an average price of $80.20, for a total transaction of $660,767.80. Following the completion of the sale, the general counsel now directly owns 10,301 shares in the company, valued at approximately $826,140.20. This trade represents a 44.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Lauren Mastrocola sold 5,188 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was sold at an average price of $81.78, for a total transaction of $424,274.64. Following the sale, the insider now owns 5,613 shares of the company’s stock, valued at $459,031.14. The trade was a 48.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

Institutional Trading of Praxis Precision Medicines

Large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in Praxis Precision Medicines during the fourth quarter worth approximately $48,000. US Bancorp DE boosted its stake in Praxis Precision Medicines by 35.9% in the 3rd quarter. US Bancorp DE now owns 2,289 shares of the company’s stock worth $132,000 after purchasing an additional 605 shares during the period. Intech Investment Management LLC acquired a new position in Praxis Precision Medicines in the 3rd quarter worth approximately $217,000. Arizona State Retirement System boosted its stake in Praxis Precision Medicines by 4.2% in the 4th quarter. Arizona State Retirement System now owns 3,851 shares of the company’s stock worth $296,000 after purchasing an additional 156 shares during the period. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Praxis Precision Medicines in the 4th quarter worth approximately $304,000. 67.84% of the stock is currently owned by institutional investors.

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.