5 Best Upside Stocks to Buy According to Hedge Funds

3. Praxis Precision Medicines Inc. (NASDAQ:PRAX)

Average Upside Potential: 81.74%

Number of Hedge Fund Holders: 54

Praxis Precision Medicines Inc. (NASDAQ:PRAX) is one of the best upside stocks to buy according to hedge funds. On June 22, Praxis Precision Medicines received FDA Breakthrough Therapy Designation for elsunersen, an experimental treatment for seizures associated with SCN2A-DEE. This follows strong results from the EMBRAVE Part A trial, where the drug achieved a 77% sham-adjusted reduction in monthly seizures and was well-tolerated by pediatric patients.

The designation supports a streamlined, single-arm registrational pathway for the ongoing pivotal EMBRAVE3 study. By facilitating expedited development and regulatory review, this status aims to accelerate the delivery of elsunersen as the first disease-modifying therapy for patients with this rare genetic condition.

This achievement marks the third Breakthrough Therapy Designation for Praxis Precision Medicines Inc.’s (NASDAQ:PRAX) late-stage pipeline, validating its Solidus ASO platform. Developed alongside Ionis Pharmaceuticals and RogCon, elsunersen now holds multiple key regulatory designations in both the US and Europe, positioning it for rapid advancement toward potential approval.

Praxis Precision Medicines Inc. (NASDAQ:PRAX) is a clinical-stage biopharmaceutical company engaging in the development of therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance.

1281292 - 11759070 - 1