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Baird cuts Praxis Precision Medicines price target to $400

Created at 1 Jun · 9:02 PM3 sources↑ Market-relevant3 events
IN SHORT

Baird lowered its price target for Praxis Precision Medicines to $400 from $433, following recent Phase 2/3 study results for its epilepsy drug vormatrigine. The reduction reflects an updated assessment of the company's valuation and future prospects.

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Key Numbers

$400new price target for Praxis Precision Medicines
$433previous price target for Praxis Precision Medicines

Who's Involved

Baird
analyst firm that reduced the price target
Praxis Precision Medicines
pharmaceutical company whose price target was reduced

↳ Why This Matters

Analyst price target changes can influence investor sentiment and affect a company's stock price, especially following significant study results.

Key facts

  • Baird lowered the price target for Praxis Precision Medicines.
  • The new price target is $400, down from $433.
  • Praxis Precision Medicines is developing the epilepsy drug vormatrigine.

Analyst price target changes reflect a firm's updated assessment of a company's valuation and future prospects, often influenced by recent news such as clinical trial results or broader market conditions. Such changes can impact investor sentiment and the stock's trading behavior.

Frequently asked questions

Praxis Precision Medicines is a pharmaceutical company developing drugs, including the epilepsy drug vormatrigine.

Baird, an analyst firm, reduced its price target for Praxis Precision Medicines.

The previous price target set by Baird for Praxis Precision Medicines was $433.

What Happens Next

01Further market reaction to the price target change.

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Cadence

How It Developed

2 Jun · 11:37 AM
Praxis Precision Medicines' stock fell after a setback in its Phase 2/3 trial for the epilepsy drug vormatrigine.
Seeking Alpha via PiQSuite
2 Jun · 3:06 AM
Baird lowered its price target for Praxis Precision Medicines to $400 from $433.
@FirstSquawk via PiQSuite
1 Jun · 8:43 PM
Praxis Precision Medicines announced Phase 2/3 study results for vormatrigine in epilepsy, evaluating its efficacy and safety.
Investing.com via PiQSuite

Sources

T1
Praxis Precision Medicines reports Phase 2/3 study results for vormatrigine in epilepsym.piqsuite.com
T1
Praxis Precision Medicines sees its price target reduced to $400 from $433 by Baird.@FirstSquawk via PiQSuite
T1
Praxis down on trial setback for seizure therapym.piqsuite.com

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