Mirae Asset Global Investments Co. Ltd. Takes $48,000 Position in Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 621 shares of the company’s stock, valued at approximately $48,000.

Other institutional investors have also made changes to their positions in the company. China Universal Asset Management Co. Ltd. bought a new position in Praxis Precision Medicines during the fourth quarter worth about $304,000. Ellsworth Advisors LLC bought a new position in shares of Praxis Precision Medicines during the 4th quarter worth approximately $627,000. Assenagon Asset Management S.A. boosted its stake in Praxis Precision Medicines by 5,437.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 559,082 shares of the company’s stock valued at $43,027,000 after buying an additional 548,986 shares in the last quarter. JPMorgan Chase & Co. grew its position in Praxis Precision Medicines by 6.1% in the third quarter. JPMorgan Chase & Co. now owns 7,814 shares of the company’s stock valued at $450,000 after acquiring an additional 448 shares during the period. Finally, Franklin Resources Inc. raised its stake in Praxis Precision Medicines by 85.6% during the third quarter. Franklin Resources Inc. now owns 445,233 shares of the company’s stock worth $25,619,000 after acquiring an additional 205,335 shares in the last quarter. 67.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Truist Financial boosted their target price 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. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Praxis Precision Medicines in a report on Tuesday. They set a “buy” rating and a $111.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $150.00 target price on shares of Praxis Precision Medicines in a report on Monday, February 10th. 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. Finally, HC Wainwright reiterated a “buy” rating and issued a $120.00 price objective on shares of Praxis Precision Medicines in a research report on Thursday, December 12th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $145.20.

Praxis Precision Medicines Stock Up 4.7 %

PRAX stock opened at $90.77 on Friday. The business has a fifty day moving average of $76.38 and a 200-day moving average of $68.39. The company has a market cap of $1.69 billion, a P/E ratio of -8.81 and a beta of 2.65. Praxis Precision Medicines, Inc. has a twelve month low of $33.01 and a twelve month high of $91.83.

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.