7 stories mentioning PRAXUpdated 21d ago
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Praxis Precision Medicines (PRAX) has an average rating of buy and mean price target of $604.84, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Jill DeSimone, Director, on June 24, 2026, sold 11,600 shares in Praxis Precision Medicines (PRAX) for $3,611,335. Following the Form 4 filing with the SEC, DeSimone has control over a total of 2,337 common shares of the company, with 2,337 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1689548/000193047926000003/xslF345X05/wk-form4_1782508155.xml
Praxis Precision Medicines' (PRAX) recent share pullback provides investors an "interesting entry point" as the reward/risk proposition of over $7.8 billion in revenue potential by 2035 is attractive, RBC Capital Markets said in a note emailed Thursday.The investment firm said Praxis' ulixacaltamide, a potential treatment for essential tremor, has a "reasonable likelihood" of reaching more than $4.3 billion in sales.RBC said that while ulix faces some regulatory risks, checks with experts indicate it can make it to market, where there is a "large unmet need and strong desire to prescribe" among physicians.Meanwhile, Praxis may also see a "modest opportunity" for its relutrigine potential treatment for genetically driven epilepsy, RBC said, adding that there is a "strong mechanistic rationale and supportive early data."RBC started coverage of Praxis with an outperform rating and $449 price target.Praxis shares were up past 2% in morning trading.Price: $277.86, Change: $+7.85, Percent Change: +2.91%
Praxis Precision Medicines (PRAX) has an average rating of buy and mean price target of $612.17, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
Healthcare stocks declined late Tuesday afternoon, with the NYSE Healthcare Index decreasing 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.9%.The iShares Biotechnology ETF (IBB) dropped 2.9%.In corporate news, Vera Therapeutics (VERA) said Tuesday it aligned with the US Food and Drug Administration on a revised analysis plan for its phase 3 Origin trial of atacicept in adults with IgA nephropathy. Its shares fell past 7%.Abivax (ABVX) faces an increasing risk of black box warning for obefazimod due to malignancies reported from a recent trial, Wedbush Securities said in a note. Abivax shares fell 43%.Heron Therapeutics (HRTX) shares dropped 42% after the company said the US District Court for the District of Delaware has ruled that claims in two of its Cinvanti injectable emulsion patents are invalid.Praxis Precision Medicines' (PRAX) shares lost 20% after it reported late Monday that its phase 2/3 trial assessing vormatrigine to treat focal onset seizures failed to meet its primary endpoint of percent change in monthly seizure frequency from baseline.
Healthcare stocks declined Tuesday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each falling 1.1%.The iShares Biotechnology ETF (IBB) dropped 3%.In corporate news, Abivax (ABVX) faces an increasing risk of black box warning for obefazimod due to malignancies reported from a recent trial, Wedbush Securities said in a note. Abivax shares fell nearly 42%.Heron Therapeutics (HRTX) shares dropped 39% after the company said the US District Court for the District of Delaware has ruled that claims in two of its Cinvanti injectable emulsion patents are invalid.Praxis Precision Medicines' (PRAX) shares tumbled 16% after it reported late Monday that its phase 2/3 trial assessing vormatrigine to treat focal onset seizures failed to meet its primary endpoint of percent change in monthly seizure frequency from baseline.
US stocks look set to open modestly lower in Tuesday's trading session as investors look for any signs that stalled Middle East may restart, and await key labor market data set for release later in the morning.The Dow Jones Industrial Average futures were down 0.5%, S&P 500 futures were off 0.2%, and Nasdaq futures were edging 0.1% lower.The Job Openings and Labor Turnover Survey (JOLTS) for April is set to be released at 10 am ET, which will give investors a good indication on the strength of the US labor market. The reading is expected to remain unchanged at 6.866 million job openings, according to Bloomberg.Oil prices were moving lower, with front-month global benchmarks Brent crude declining 0.96% to $94.07 a barrel, while West Texas Intermediate crude was down 1.10% to $91.15 a barrel.In other world markets, Japan's Nikkei closed 0.3% lower, Hong Kong's Hang Seng surged 2.5%, and China's Shanghai Composite gained 0.4%. Meanwhile in Europe's early afternoon session, the UK's FTSE 100 was edging 0.1% higher, Germany's DAX was up 0.7%, and France's CAC was rising 0.5%.In equities, shares of Hewlett Packard Enterprise (HPE) surged 27% in Tuesday's premarket session after it reported fiscal Q2 earnings late Monday that beat analyst forecasts.Marvell Technology (MRVL) shares climbed 18% after multiple news outlets reported that Nvidia (NVDA) Chief Executive Jensen Huang called the chipmaker the next "trillion-dollar company."Shares of STMicroelectronics (STM) advanced 10% after it said Tuesday that it now expects to generate data center revenue of about $1 billion in 2026, compared with previous guidance of more than $500 million.On the losing side, shares of Abivax (ABVX) tumbled 35% after the company's phase 3 maintenance trial evaluating obefazimod in ulcerative colitis met its primary endpoint and key secondary endpoints, though malignancy cases reported during the trial weighed on the results.AEVEX's (AVEX) stock was down 11% pre-bell after it reported late Monday it launched a public offering of its class A common shares, along with certain selling shareholders.And Praxis Precision Medicines' (PRAX) shares were down 10% after it reported late Monday that its phase 2/3 trial assessing vormatrigine to treat focal onset seizures failed to meet its primary endpoint of percent change in monthly seizure frequency from baseline.
