Praxis Precision Medicines (NASDAQ:PRAX) Earns Outperform Rating from Analysts at Cowen

Cowen started coverage on shares of Praxis Precision Medicines (NASDAQ:PRAX) in a report published on Tuesday morning, AR Network reports. The brokerage issued an outperform rating on the stock.

Separately, Piper Sandler assumed coverage on shares of Praxis Precision Medicines in a research report on Tuesday. They set an overweight rating and a $65.00 price target on the stock.

Shares of PRAX opened at $33.35 on Tuesday. Praxis Precision Medicines has a 1 year low of $23.90 and a 1 year high of $38.42.

In other news, CEO Marcio Souza bought 3,846 shares of Praxis Precision Medicines stock in a transaction that occurred on Tuesday, November 10th. The shares were purchased at an average price of $26.08 per share, with a total value of $100,303.68. Following the completion of the acquisition, the chief executive officer now directly owns 24,450 shares in the company, valued at $637,656. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

About Praxis Precision Medicines

Praxis Precision Medicines, Inc, a clinical-stage biopharmaceutical company, develops therapies for central nervous system disorders characterized by neuronal imbalance. Its lead product candidates include PRAX-114, an extrasynaptic-preferring GABAA receptor positive allosteric modulator that is in Phase IIa clinical trial for the treatment of major depressive disorder and perimenopausal depression; and PRAX-944, a selective small molecule inhibitor of T-type calcium channels, which is in Phase IIa clinical trial for the treatment of essential tremor.

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