Praxis Precision Medicines, Inc. (PRAX) experienced a significant intraday surge, with its stock price soaring 5.12%. The movement occurred during the regular trading session, reflecting heightened investor activity.

The sharp rise appears to be driven by a wave of positive analyst actions. Multiple financial institutions have raised their price targets for the company. Notably, Truist Securities increased its target to $700 from $500, while Jefferies raised its target to $525 from $450. Deutsche Bank also lifted its target to $412 from $357, and Wells Fargo adjusted its target upward to $305 from $282.

Additional supportive research includes JonesTrading reaffirming its Buy rating and Wedbush also adjusting its price target. These collective analyst upgrades and maintained positive ratings suggest growing confidence in the company's prospects, which typically incentivizes investor buying and contributes to upward price momentum.