Fintel reports that on October 3, 2023, Wedbush reiterated coverage of Praxis Precision Medicines (NASDAQ:PRAX) with a Neutral recommendation.
Analyst Price Forecast Suggests 306.75% Upside
As of August 31, 2023, the average one-year price target for Praxis Precision Medicines is 6.63. The forecasts range from a low of 1.52 to a high of $18.90. The average price target represents an increase of 306.75% from its latest reported closing price of 1.63.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Praxis Precision Medicines is 0MM, a decrease of 100.00%. The projected annual non-GAAP EPS is -2.78.
What is the Fund Sentiment?
There are 126 funds or institutions reporting positions in Praxis Precision Medicines. This is a decrease of 88 owner(s) or 41.12% in the last quarter. Average portfolio weight of all funds dedicated to PRAX is 0.26%, an increase of 573.28%. Total shares owned by institutions increased in the last three months by 101.85% to 117,812K shares. 
The put/call ratio of PRAX is 0.16, indicating a bullish outlook.
What are Other Shareholders Doing?
Point72 Asset Management holds 10,550K shares representing 8.21% ownership of the company. In it's prior filing, the firm reported owning 50K shares, representing an increase of 99.53%. The firm increased its portfolio allocation in PRAX by 28,700.43% over the last quarter.
Verition Fund Management holds 10,488K shares representing 8.16% ownership of the company. In it's prior filing, the firm reported owning 2,962K shares, representing an increase of 71.75%. The firm increased its portfolio allocation in PRAX by 462.91% over the last quarter.
Cormorant Asset Management holds 9,500K shares representing 7.39% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
PFM Health Sciences holds 8,892K shares representing 6.92% ownership of the company. In it's prior filing, the firm reported owning 2,177K shares, representing an increase of 75.52%. The firm increased its portfolio allocation in PRAX by 410.47% over the last quarter.
Sphera Funds Management holds 8,764K shares representing 6.82% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
Praxis Precision Medicines Background Information
(This description is provided by the company.)
Praxis Precision Medicines is a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders (CNS) characterized by neuronal imbalance. Praxis is applying insights from genetic epilepsies to broader neurological and psychiatric disorders, using our understanding of shared biological targets and circuits in the brain. Praxis has established a broad portfolio, including multiple disclosed programs across CNS disorders including depression, epilepsy, movement disorders and pain syndromes, with three clinical-stage product candidates.
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