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Praxis Precision Medicines, Inc.

PRAX · NASDAQ

Market open$309.02$-5.39 (-1.71%)

Key statistics

Previous close$314.41
Open$320.50
Day high$325.66
Day low$308.42
52-week high$366.52
52-week low$37.19
Market cap6.53B
Volume46.75K
Average volume497.08K
P/E ratio-23.11
Forward P/E—
EPS-13.37
Dividend yield0.00%

Market context

Why it moved

PRAX shares rose today driven by renewed investor interest following the announcement of a research collaboration and license agreement with Remagine Labs to develop a transdermal patch for ulixacaltamide in essential tremor, reinforcing confidence in the company's expanding CNS pipeline.

IdsaSimplywallMinnowstreetCopdfoundationYahoo Finance

What is happening

Recent company-specific developments and publisher coverage.

July 20, 2026Praxis Precision Medicines edged lower despite fresh bullish commentary, as the company drew investor attention with its new research collaboration with Remagine Labs to develop a transdermal patch delivery system for ulixacaltamide in essential tremor. Analysts at Simply Wall St. pegged the stock as potentially 49% undervalued relative to a fair value estimate of $617.67, citing the company's rich CNS pipeline — including vormatrigine and relutrigine with breakthrough designations in severe genetic epilepsies — as drivers of longer-term upside. The pullback comes amid a broadly muted healthcare sector (XLV) and geopolitical-driven market volatility tied to U.S.-Iran tensions.

-1.9067

July 18, 2026Praxis Precision Medicines gained on Thursday, outperforming the broader healthcare sector (XLV closed slightly lower) as investor attention remains focused on the company's CNS pipeline catalysts. Key developments include the FDA's three-month extension of relutrigine's NDA review to December 27—triggered by sensitivity analyses submitted as a 'major amendment' with no new trials or safety concerns required—and a new transdermal patch collaboration with Remagine Labs for ulixacaltamide in essential tremor. Analysts remain broadly bullish, with the stock also drawing attention amid renewed sector interest in CNS and mental health therapeutics following Eli Lilly's psychedelic drug deal. Shares extended gains in after-hours trading.

2.0149

July 17, 2026Praxis Precision Medicines declined amid a broader tech and growth stock selloff, as AI-linked and high-beta names faced valuation pressure with the Nasdaq dropping 0.8%. The pullback comes despite a flurry of bullish catalysts: Goldman Sachs initiated coverage with a Buy rating and $447 price target, Piper Sandler maintained an Overweight with a $1,200 target, and investors are closely watching two approaching PDUFA dates — relutrigine (Dec. 27) for genetic epilepsy and ulixacaltamide (Jan. 29, 2027) for essential tremor — alongside a new transdermal patch collaboration with Remagine Labs.

-3.2096

July 15, 2026Praxis Precision Medicines closed down nearly 3% as investors digested a mix of fresh institutional coverage and ongoing regulatory uncertainty. Goldman Sachs initiated coverage with a Buy rating and a $447 price target on July 14, citing high-probability approval for ulixacaltamide (essential tremor) by its January 2027 PDUFA date and flagging Q4 EMERALD data for relutrigine as the most critical near-term catalyst. However, the FDA's recent three-month extension of the relutrigine NDA review—to December 27—continues to weigh on sentiment, even as Piper Sandler maintained an Overweight rating with a Street-high $1,200 target and a 95% approval probability for ulixacaltamide.

-2.8259

July 15, 2026Praxis Precision Medicines gained sharply, supported by a powerful analyst catalyst: Goldman Sachs initiated coverage with a Buy rating and a $447 price target, while Piper Sandler reiterated its Overweight rating with a Street-high $1,200 target. Goldman highlighted two near-term drug approvals expected by January 2027—ulixacaltamide for essential tremor and relutrigine for genetic epilepsy—and projects up to $5B in peak U.S. sales for the former. Shares also continue to benefit from the FDA's recent Breakthrough Therapy Designation for elsunersen, and the stock is extending an extraordinary ~543% one-year run heading into pivotal Q4 EMERALD data.

4.1709

July 14, 2026Praxis Precision Medicines closed down roughly 3% amid a broader market selloff driven by renewed U.S.-Iran tensions and surging oil prices, even as Goldman Sachs initiated coverage with a Buy rating and a $447 price target—well below the consensus average target of ~$605. Piper Sandler simultaneously reiterated its Overweight rating with a $1,200 target and assigned a 95% probability of approval for ulixacaltamide in essential tremor, with investors closely watching Q4 2026 EMERALD Phase 3 data for relutrigine and two approaching PDUFA dates (December 27 for relutrigine, January 29 for ulixacaltamide).

-3.2093

July 11, 2026Praxis Precision Medicines declined despite a bullish RBC Capital Markets note reaffirming an Outperform rating and $449 price target, with the firm projecting relutrigine could command a list price of $450,000–$650,000 and generate ~$2.6B in revenue by 2035—above consensus. The pullback came as the broader healthcare sector (XLV) also softened, and investors continued to digest the recent POWER1 setback for vormatrigine, even as the company's lead ulixacaltamide NDA for essential tremor progresses toward a January 29, 2027 PDUFA date.

-2.4406

July 8, 2026Praxis Precision Medicines gained over 3% in regular trading and surged an additional ~10% in after-hours, driven by its announcement of a strategic collaboration with Remagine Labs to develop an iontophoretic transdermal patch for ulixacaltamide in essential tremor — complementing the oral program already under FDA review (PDUFA: Jan. 29, 2027). The deal extends the franchise into the ~7 million U.S. ET patient population and comes amid a broader biotech rally, with Jim Cramer calling biotech 'the hottest group in the market' and the healthcare sector (XLV) near 52-week highs after back-to-back weeks of outperformance.

3.3333

Simply Wall Street · July 20, 2026Praxis Precision Medicines (PRAX) Could Be 49% Undervalued As Patch Deal Expands Ulixacaltamide ReachInvesting.com · July 13, 2026Goldman Sachs initiates Praxis Precision Medicines stock coverage with buy ratingMoomoo · July 10, 2026Praxis Precision Medicines Seen Having Greater Commercial Upside for Relutrigine, RBC SaysGlobeNewswire · July 7, 2026Praxis Precision Medicines and Remagine Labs AnnounceStock Titan · July 7, 2026Praxis bets on skin patch for essential tremor drugInvestor's Business Daily · June 2, 2026The Shocking Twist That Sent This Seizure-Focused Biotech Into A DiveInvesting News Network · June 1, 2026Praxis Precision Medicines Provides Vormatrigine Program UpdateInvesting.com · May 26, 2026H.C. Wainwright reiterates Praxis Precision stock rating on patent news
Mt Newswire · July 13, 2026Goldman Sachs Initiates Praxis Precision Medicines at Buy With $447 Price Target
Benzinga · July 13, 2026Goldman Sachs Initiates Coverage On Praxis Precision Medicine with Buy Rating, Announces Price Target of $447
Mt Newswire · July 10, 2026Praxis Precision Medicines Seen Having Greater Commercial Upside for Relutrigine, RBC Says
Benzinga · July 7, 2026Praxis Precision Medicines And Remagine Labs Announce Research Collaboration And License Agreement To Develop Iontophoretic Transdermal Patch For Delivery Of Ulixacaltamide For Essential Tremor
Mt Newswire · June 29, 2026Praxis Precision Medicines Says US FDA Extends Review Period for New Drug Application for Relutrigine
Benzinga · June 29, 2026Praxis Precision Medicines Announces FDA Extends PDUFA Date To December 27, 2026 For Relutrigine Following Major Amendment Submission; No New Clinical Or Safety Concerns Cited
Benzinga · June 29, 2026Needham Maintains Buy on Praxis Precision Medicine, Raises Price Target to $575
Mt Newswire · June 26, 2026Praxis Precision Medicines Insider Sold Shares Worth $3,611,335, According to a Recent SEC Filing

Peers

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