Praxis Precision Medicines (PRAX)
Develops small-molecule and antisense therapies for essential tremor and genetic epilepsies.
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Develops small-molecule and antisense therapies for essential tremor, genetic epilepsies, and common epilepsies through the Cerebrum and Solidus platforms. With no approved products, it funds research primarily through equity financing while leading candidates move through FDA review and clinical trials.
Develops precision medicines for central nervous system disorders linked to imbalanced neuronal excitation and inhibition. The Cerebrum small-molecule platform includes ulixacaltamide for essential tremor, relutrigine for genetic developmental and epileptic encephalopathies, and vormatrigine for common epilepsies; the Solidus antisense platform is led by elsunersen for early-onset SCN2A disease.
Combines human genetics with disease models, electrophysiology biomarkers, and global clinical networks to move candidates from target selection through late-stage trials. Ulixacaltamide and relutrigine are under FDA review, while vormatrigine remains in development after a study missed its primary endpoint.
Operates from the United States and has no approved products or product-sales revenue. Development, clinical execution, and any future commercial supply depend on regulatory approvals, external collaborators, contract research organizations, and third-party manufacturers.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Aug 21, 2026 | Goldman Sachs | Reiterate | Rating: —Target: $447 | Target: $575 |
| Aug 17, 2026 | Raymond James | Reiterate | Rating: —Target: $815 | Target: $945 |
| Aug 7, 2026 | RBC Capital | Reiterate | Rating: —Target: $449 | Target: $462 |
| Aug 7, 2026 | Robert W. Baird | Target | Target: $400 | Target: $514 |
| Aug 7, 2026 | Wells Fargo | Reiterate | Rating: —Target: $305 | Target: $362 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $758.6M · Total debt $1.1M · Total assets $1.39B · Shareholders' equity $1.34B
- Revenue
- $0
- Operating income
- −$96.9M
- Net income
- −$83.7M
No dividends on record.
| Institutions | ≈ 120.49% | 33.64M shares | |
|---|---|---|---|
| 330 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 0.68% | 189.5K shares | |
| 13 holders · as of Jul 8, 2026 | |||
| Strategic holders | 89.25% | 24.92M shares | |
| 2 holders · as of Nov 14, 2025 | |||
| Adds to | 210.42% | ||
27.92M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 210.42%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Adage Capital Management, L.P.1Strategic10 percent owner | 79.35% | 22.15M | filed Oct 17, 2025 |
Jupiter Topco LLCInstitution | 12.25% | 3.42M | as of Jun 30, 2026 |
Janus Henderson Group PLCStrategic | 9.90% | 2.76M | filed Nov 14, 2025 |
Orbis Investment Management LtdInstitution | 8.84% | 2.47M | filed May 15, 2026 |
FMR LLCInstitution | 8.30% | 2.32M | as of Jun 30, 2026 |
- Reported at 3.83% on Feb 12, 2026, under the 5% line, so no further filing is required.
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 24, 2026 | Jill DeSimone | director | −11,600 | $311.32 |
| Nov 20, 2025 | Lauren Mastrocola | officer: Principal Accounting Officer | −13,600 | $192.08 |
| Nov 20, 2025 | Alex Nemiroff | officer: General Counsel and Secretary | −25,130 | $193.09 |
| Oct 16, 2025 | Adage Capital Management, L.P. | 10 percent owner | −313,910 | $105.76 |
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Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Praxis Precision Medicines | $276.56 | −8.01% | $8.38B | — | — | — | — |
| Xenon Pharmaceuticals | $36.30 | −7.15% | $3.78B | — | — | — | — |
| Jazz Pharmaceuticals | $232.97 | −3.16% | $15.11B | 16.4 | 9.2 | 3.3 | +15.6% |
| Stoke Therapeutics | $26.74 | −8.43% | $1.88B | — | — | 68.3 | −32.5% |
| Biohaven | $13.64 | −8.15% | $2.24B | — | — | — | — |
| Harmony Biosciences | $40.17 | −3.28% | $2.40B | 13.5 | 10.0 | 2.5 | +30.3% |
| Neurocrine Biosciences | $139.97 | −1.60% | $14.30B | 20.9 | 15.3 | 4.2 | +39.5% |
| Median | 16.4 | 10.0 | 3.8 | +22.9% |