State of New Jersey Common Pension Fund D Takes Position in Praxis Precision Medicines, Inc. $PRAX

State of New Jersey Common Pension Fund D bought a new stake in Praxis Precision Medicines, Inc. (NASDAQ:PRAX) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,018 shares of the company’s stock, valued at approximately $2,068,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Adage Capital Partners GP L.L.C. increased its holdings in shares of Praxis Precision Medicines by 13.3% during the 2nd quarter. Adage Capital Partners GP L.L.C. now owns 1,974,585 shares of the company’s stock worth $83,031,000 after acquiring an additional 231,827 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Praxis Precision Medicines by 15.3% during the 4th quarter. Vanguard Group Inc. now owns 1,460,933 shares of the company’s stock worth $430,595,000 after acquiring an additional 193,647 shares during the last quarter. Deerfield Management Company L.P. increased its holdings in shares of Praxis Precision Medicines by 22.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 840,851 shares of the company’s stock worth $44,565,000 after acquiring an additional 153,920 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Praxis Precision Medicines by 12.7% during the 3rd quarter. Bank of America Corp DE now owns 482,861 shares of the company’s stock worth $25,592,000 after acquiring an additional 54,458 shares during the last quarter. Finally, Woodline Partners LP boosted its stake in Praxis Precision Medicines by 808.9% in the 3rd quarter. Woodline Partners LP now owns 417,669 shares of the company’s stock valued at $22,136,000 after purchasing an additional 371,717 shares during the period. 67.84% of the stock is owned by institutional investors.

Key Headlines Impacting Praxis Precision Medicines

Here are the key news stories impacting Praxis Precision Medicines this week:

• Positive Sentiment: The company reported first-quarter 2026 results with a smaller-than-expected loss, as EPS of ($3.20) beat estimates of ($3.58), which can help reassure investors ahead of future commercialization. Praxis earnings report
• Positive Sentiment: Praxis said the FDA accepted NDA filings for ulixacaltamide in essential tremor and relutrigine in SCN2A/SCN8A developmental and epileptic encephalopathies, giving the pipeline clearer regulatory timelines and potential catalysts in 2026-2027. Corporate update and Q1 2026 results
• Neutral Sentiment: BTIG reiterated a Buy rating and raised its price target sharply to $843, signaling strong long-term optimism even after the stock’s recent run-up. BTIG research update
• Negative Sentiment: Wedbush raised its target to $166 but kept an Underperform rating, highlighting meaningful downside risk versus the current share price and creating a conflicting message for investors. Wedbush rating update
• Neutral Sentiment: A Globe and Mail article noted analysts are bullish on Praxis alongside other healthcare names, adding to the broader positive attention on the stock. Analysts bullish on PRAX

Praxis Precision Medicines Price Performance

PRAX opened at $330.02 on Monday. The company has a market capitalization of $9.20 billion, a PE ratio of -24.68 and a beta of 2.76. The business has a fifty day simple moving average of $317.78 and a 200 day simple moving average of $277.56. Praxis Precision Medicines, Inc. has a 1 year low of $35.21 and a 1 year high of $356.00.

Praxis Precision Medicines (NASDAQ:PRAX) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($3.20) earnings per share for the quarter, beating the consensus estimate of ($3.58) by $0.38. Equities analysts anticipate that Praxis Precision Medicines, Inc. will post -15.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently issued reports on PRAX shares. Robert W. Baird set a $433.00 price target on Praxis Precision Medicines and gave the company an “outperform” rating in a research note on Friday, February 20th. Wedbush boosted their price target on Praxis Precision Medicines from $130.00 to $166.00 and gave the company an “underperform” rating in a research note on Friday. TD Cowen restated a “buy” rating on shares of Praxis Precision Medicines in a research note on Thursday, January 29th. Needham & Company LLC restated a “buy” rating and issued a $510.00 price target on shares of Praxis Precision Medicines in a research note on Tuesday, April 14th. Finally, Wells Fargo & Company set a $305.00 price target on Praxis Precision Medicines and gave the company an “equal weight” rating in a research note on Friday, February 20th. Five investment analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, Praxis Precision Medicines presently has an average rating of “Buy” and an average target price of $591.83.

About Praxis Precision Medicines

Praxis Precision Medicines is a clinical-stage biopharmaceutical company focused on discovering and developing precision therapies for disorders driven by neuronal excitability. The company applies translational neuroscience and genetic insights to design small molecule drugs that target specific ion channels and receptor subtypes implicated in neurological and psychiatric conditions. Its research aims to address unmet needs in rare epilepsies, essential tremor, treatment-resistant depression and other central nervous system (CNS) disorders.

The company’s pipeline includes several lead candidates at various stages of development.