Jim Cramer: This Healthcare Stock Is 'Too Risky,' But Shares Jumped 64% Over Past Month

On CNBC’s "Mad Money Lightning Round," Jim Cramer said Praxis Precision Medicines, Inc. PRAX is "too risky."

Praxis Precision Medicines recently priced its underwritten public offering of 3.17 million shares at $35.50 per share and, in lieu of shares of common stock, pre-funded warrants to purchase up to 1.06 million shares at $35.4999 per pre-funded warrant, for gross proceeds of $150 million. The Boston-based company’s shares jumped around 64% over the past month.

Cramer said no to U.S. Silica Holdings, Inc. SLCA. During November, the Katy, Texas-based firm posted weaker-than-expected results for its third quarter.

When asked about Tetra Tech, Inc. TTEK, Cramer said, "I will bless it."

Keybanc analyst Sangita Jain recently initiated coverage on Tetra Tech with an Overweight rating and announced a price target of $191.

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RxSight, Inc. RXST is losing a lot of money, the "Mad Money" host said. "I want to do more work on it because they’re losing too much money for me to just say it’s fine."

RXSight recently issued preliminary FY23 and FY24 revenue guidance above estimates. Also, Needham maintained a Buy rating on the stock and raised its price target from $35 to $41.

Price Action:

• Shares of RxSight fell 1.4% to close at $46.44
• Tetra Tech shares fell 0.7% to $ 160.75 on Wednesday.
• U.S. Silica gained 2% to settle at $10.66
• Praxis Precision Medicines shares fell 3.2% to close at $37.19 during Wednesday’s session.

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