Praxis Precision Medicines Prices 2.21M Share Offering at $260 Each
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1d ago
0mins
Source: Globenewswire
- Significant Financing: Praxis Precision Medicines has priced its public offering of 2.21 million shares at $260 each, expecting gross proceeds of approximately $575 million, which will provide crucial funding for its CNS disorder therapies development.
- Strong Underwriter Lineup: The offering is managed by Piper Sandler, TD Cowen, Guggenheim Securities, and Truist Securities, reflecting strong market confidence and support for Praxis.
- Additional Share Option: Praxis has granted underwriters a 30-day option to purchase up to 331,800 additional shares at the same public offering price, providing flexibility for further capital raising.
- Regulatory Compliance: The offering is made under a shelf registration statement filed on December 23, 2024, ensuring compliance and transparency, which helps enhance investor trust and attract more capital.
Analyst Views on PRAX
Wall Street analysts forecast PRAX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PRAX is 327.08 USD with a low forecast of 250.00 USD and a high forecast of 540.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
14 Buy
0 Hold
0 Sell
Strong Buy
Current: 272.900
Low
250.00
Averages
327.08
High
540.00
Current: 272.900
Low
250.00
Averages
327.08
High
540.00
About PRAX
Praxis Precision Medicines, Inc. is a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance. The Company is applying genetic insights to the discovery and development of therapies for neurological disorders through two platforms, using its understanding of shared biological targets and circuits in the brain. Its platform includes Cerebrum, a small-molecule platform, which utilizes deep understanding of neuronal excitability and neuronal networks and applies a series of computational and experimental tools to develop orally available precision therapies, and Solidus, an antisense oligonucleotide platform, is an efficient, targeted precision medicine discovery and development engine anchored on a proprietary, computational methodology. The Company’s product candidates include ulixacaltamide, vormatrigine, relutrigine, PRAX-080, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
