Praxis Precision Medicines, Inc. (PRAX) a Strong Buy, Per Wall Street Consensus

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%.

Praxis Precision Medicines, Inc. (PRAX) a Strong Buy, Per Wall Street Consensus

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.

While we acknowledge the risk and potential of PRAX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than PRAX and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None.