14 Best Booming Stocks to Buy Right Now

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5. Praxis Precision Medicines, Inc. (NASDAQ:PRAX)

Upside Potential: 65.63%

3M Returns: 421.31%

Number of Hedge Fund Holders: 33

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) is among the 14 best booming stocks to buy right now, with staggering three-month returns of over 420%.

On January 12, Wedbush analyst Laura Chico lifted the price target on the stock to $95 from $83, citing the company’s recent public offering as the basis for the adjustment. According to a press release later during the day, the offering generated around $621 million in net proceeds.

Despite the revision, the new price target represents a downside of 66% from Tuesday’s close of $280.86. Wedbush maintained an Underperform rating for the shares.

While the firm has a bearish outlook for Praxis Precision Medicines, Inc. (NASDAQ:PRAX), Wall Street on a whole remains bullish with a consensus Strong Buy rating and a one-year average share price target of $$456.71, representing an upside of 65.63% as of January 12.

In other news, the biopharmaceutical company on Monday also shared its corporate outlook for 2026 and mentioned that multiple readouts were scheduled over the next 12-24 months. It is also planning two New Drug Applications (NDA) submissions in February this year to the FDA for Ulixacaltamide in essential tumor and Relutrigine for SCN2A- and SCN8A-DEE.

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) is a biopharmaceutical company that uses genetics insights to develop therapies for central nervous system disorders.

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