Praxis Precision Medicines Inc. [PRAX] gain 49.58% so far this year. What now?

Praxis Precision Medicines Inc. [NASDAQ: PRAX] price surged by 20.27 percent to reach at $0.6. The company report on December 13, 2022 that Praxis Precision Medicines and UCB Announce Epilepsy Research Collaboration.

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“We are excited to partner with UCB, a global leader in epilepsy drug development, as we work together toward a novel approach for the treatment of KCNT1 related epilepsy, which has no approved therapies currently,” said Marcio Souza, president and chief executive officer of Praxis. “Our internal research efforts give us confidence that small molecules can selectively inhibit the KCNT1 channel, and potentially could be an effective treatment for individuals suffering from KCNT1 related epilepsy. The collaboration with UCB validates this approach and will allow us to accelerate efforts toward a potential treatment for KCNT1 patients.”.

A sum of 18481929 shares traded at recent session while its average daily volume was at 466.69K shares. Praxis Precision Medicines Inc. shares reached a high of $5.25 and dropped to a low of $3.16 until finishing in the latest session at $3.56.

The one-year PRAX stock forecast points to a potential upside of 59.91. The average equity rating for PRAX stock is currently 2.20, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Praxis Precision Medicines Inc. [PRAX]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRAX shares is $8.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRAX stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wedbush have made an estimate for Praxis Precision Medicines Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 06, 2022. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on December 16, 2021, representing the official price target for Praxis Precision Medicines Inc. stock. Previously, the target price had yet another raise to $28, while BofA Securities analysts kept a Buy rating on PRAX stock.

The Average True Range (ATR) for Praxis Precision Medicines Inc. is set at 0.38 The Price to Book ratio for the last quarter was 1.55, with the Price to Cash per share for the same quarter was set at 3.16.

PRAX Stock Performance Analysis:

Praxis Precision Medicines Inc. [PRAX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 41.27. With this latest performance, PRAX shares gained by 61.82% in over the last four-week period, additionally sinking by -0.56% over the last 6 months – not to mention a drop of -79.52% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRAX stock in for the last two-week period is set at 77.26, with the RSI for the last a single of trading hit 82.15, and the three-weeks RSI is set at 72.64 for Praxis Precision Medicines Inc. [PRAX]. The present Moving Average for the last 50 days of trading for this stock 2.26, while it was recorded at 2.93 for the last single week of trading, and 4.15 for the last 200 days.

Insight into Praxis Precision Medicines Inc. Fundamentals:

Return on Equity for this stock declined to -62.07, with Return on Assets sitting at -56.07.

Praxis Precision Medicines Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.60 and a Current Ratio set at 4.60.


The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PRAX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Praxis Precision Medicines Inc. go to -14.60%.

Praxis Precision Medicines Inc. [PRAX] Insider Position Details

There are presently around $150 million, or 90.30% of PRAX stock, in the hands of institutional investors. The top three institutional holders of PRAX stocks are: BLACKSTONE INC. with ownership of 4,894,109, which is approximately 0% of the company’s market cap and around 0.60% of the total institutional ownership; EVENTIDE ASSET MANAGEMENT, LLC, holding 3,518,062 shares of the stock with an approximate value of $12.52 million in PRAX stocks shares; and PFM HEALTH SCIENCES, LP, currently with $12.31 million in PRAX stock with ownership of nearly 4.888% of the company’s market capitalization.

Positions in Praxis Precision Medicines Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 55 institutional holders increased their position in Praxis Precision Medicines Inc. [NASDAQ:PRAX] by around 6,892,032 shares. Additionally, 44 investors decreased positions by around 7,912,695 shares, while 22 investors held positions by with 27,271,670 shares. The mentioned changes placed institutional holdings at 42,076,397 shares, according to the latest SEC report filing. PRAX stock had 24 new institutional investments in for a total of 1,193,894 shares, while 13 institutional investors sold positions of 844,310 shares during the same period.


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