Needham Analyst Keeps a Buy Rating on Praxis Precision Medicines, Inc. (PRAX)

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) is among the 20 Best Performing Stocks in 2025.

On January 5, 2026, TheFly reported that Needham analyst Ami Fadia kept a Buy recommendation on Praxis Precision Medicines, Inc. (NASDAQ:PRAX) and lifted the price objective from $315 to $460. Needham anticipates more new medication application filings in 2026, which he sees as a continuation of 2025 for the stock. Furthermore, the firm stated that if ulixacaltamide is given priority evaluation, citing unmet medical need, the corporation may be approved for the treatment of essential tremor. Needham anticipates strong growth in 2026 due to several data catalysts and possible approval.

Separately, on December 29, 2025, after Praxis Precision Medicines, Inc. (NASDAQ:PRAX) declared that the FDA had granted Breakthrough Therapy Designation for ulixacaltamide for the treatment of patients with essential tremor, Jefferies analyst Andrew Tsai called the announcement basically reducing risk and significant FDA validation. Since it can be presumed that the FDA has vetted the data package, which includes two positive Phase 3 studies. The firm upgrades its evaluation of ulixacaltamide’s chances of success in essential tremor from 70% to 80%-90%, pointing out that programs using BTD had a high 73% approval rate. Jefferies has a $450 price objective for the company’s shares and a buy rating.

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) is a clinical-stage biopharmaceutical firm.

While we acknowledge the potential of PRAX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

READ NEXT: 10 High-Growth EV Stocks to Invest In and 13 Best Car Stocks to Buy in 2025.

Disclosure. None