<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

    <documentType>4</documentType>
	<periodOfReport>2003-07-24</periodOfReport>
	<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001033025</issuerCik>
        <issuerName>PRAECIS PHARMACEUTICALS INC</issuerName>
        <issuerTradingSymbol>PRCS</issuerTradingSymbol>
	</issuer>
	<reportingOwner>
		<reportingOwnerId>
            <rptOwnerCik>0001201715</rptOwnerCik>
            <rptOwnerName>BAKER G LEONARD JR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
			<isDirector>1</isDirector>
			<isOfficer>0</isOfficer>
			<isTenPercentOwner>0</isTenPercentOwner>
			<isOther>0</isOther>
		</reportingOwnerRelationship>
	</reportingOwner>
	<nonDerivativeSecurity>
		<securityTitle>
			<value>Common</value>
		</securityTitle>
		<transactionDate>
			<value>2003-07-24</value>
		</transactionDate>
		<transactionCoding>
			<transactionFormType>4</transactionFormType>
			<transactionCode>S</transactionCode>
			<equitySwapInvolved>0</equitySwapInvolved>
		</transactionCoding>
		<transactionAmounts>
			<transactionShares>
				<value>48889</value>
			</transactionShares>
			<transactionValue>
				<value>6.3924</value>
			</transactionValue>
			<transactionAcquiredDisposedCode>
				<value>D</value>
			</transactionAcquiredDisposedCode>
		</transactionAmounts>
		<postTransactionAmounts>
			<sharesOwnedFollowingTransaction>
				<value>714704</value>
			</sharesOwnedFollowingTransaction>
		</postTransactionAmounts>
		<ownershipNature>
			<directOrIndirectOwnership>
				<value>I</value>
			</directOrIndirectOwnership>
			<natureOfOwnership>
				<value>By Shares Held By Ltd Partnership (SHV)</value>
				<footnoteId id="F1"/>
			</natureOfOwnership>
		</ownershipNature>
	</nonDerivativeSecurity>
	<nonDerivativeSecurity>
		<securityTitle>
			<value>Common</value>
		</securityTitle>
		<transactionDate>
			<value>2003-07-24</value>
		</transactionDate>
		<transactionCoding>
			<transactionFormType>4</transactionFormType>
			<transactionCode>P</transactionCode>
			<equitySwapInvolved>0</equitySwapInvolved>
		</transactionCoding>
		<transactionAmounts>
			<transactionShares>
				<value>48889</value>
			</transactionShares>
			<transactionValue>
				<value>6.3924</value>
			</transactionValue>
			<transactionAcquiredDisposedCode>
				<value>A</value>
			</transactionAcquiredDisposedCode>
		</transactionAmounts>
		<postTransactionAmounts>
			<sharesOwnedFollowingTransaction>
				<value>48889</value>
				<footnoteId id="F2"/>
			</sharesOwnedFollowingTransaction>
		</postTransactionAmounts>
		<ownershipNature>
			<directOrIndirectOwnership>
				<value>I</value>
			</directOrIndirectOwnership>
			<natureOfOwnership>
				<value>By Trust</value>
				<footnoteId id="F3"/>
			</natureOfOwnership>
		</ownershipNature>
	</nonDerivativeSecurity>
	<footnotes>
		<footnote id="F1">Shares held by Sutter Hill Ventures, A California Limited Partnership. The reporting person is a Managing Director of the General Partner of Sutter Hill Ventures, A California Limited Partnership. The reporting person disclaims beneficial ownership in these shares except as to the reporting person's pecuniary interest in the partnership.</footnote>
		<footnote id="F2">In addition, there are 152,207 shares held by the reporting person directly; 130,928 shares held by a retirement trust for the benefit of the reporting person; 83,908 shares held by a limited partnership of which the reporting person is a General Partner; 7,102 shares held by Sutter Hill Entrepreneurs Fund (AI), L.P. and 17,901 shares held by Sutter Hill Entrepreneurs Fund (QP), L.P. of which the reporting person is a Managing Director of the General Partner. The reporting person disclaims beneficial ownership in all those shares held by the limited partnerships except as to the reporting person's pecuniary interests in these limited partnerships.</footnote>
		<footnote id="F3">Shares held by a trust of which the reporting person is a trustee. The reporting person disclaims beneficial ownership in these shares except as to the reporting person's pecuniary interest in the trust.</footnote>
	</footnotes>
	<ownerSignature>
		<signatureName>By: Robert Yin, by power of attorney</signatureName>
		<signatureDate>2003-07-24</signatureDate>
	</ownerSignature>
</ownershipDocument>

