Praxis Precision Medicines
Develops small-molecule and antisense therapies for essential tremor and genetic epilepsies.
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Profile
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
Key statistics
Year to date +20.5% · Average volume (30d) 383.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 21, 2026 | Goldman Sachs | Reiterate | Buy | $447 | $575 |
| Aug 17, 2026 | Raymond James | Reiterate | Strong Buy | $815 | $945 |
| Aug 7, 2026 | RBC Capital | Reiterate | Outperform | $449 | $462 |
| Aug 7, 2026 | Robert W. Baird | Target | $400 | $514 | |
| Aug 7, 2026 | Wells Fargo | Reiterate | Positive | $305 | $362 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$3.67 | −$2.87 | +21.8% | $1.3M | — | — | +15.95% |
| May 7, 2026Q1 FY26 | −$3.58 | −$3.20 | +10.6% | $100.0K | — | — | −0.98% |
| Feb 19, 2026Q4 FY25 | −$3.13 | −$3.50 | −12.0% | $66.7K | — | — | +1.11% |
| Nov 5, 2025Q3 FY25 | −$3.45 | −$3.36 | +2.6% | $256.1K | — | — | +4.68% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | −$60.8M | −$63.0M | −$65.8M | −$77.5M | −$39.0K | $0 | |
| Operating income | −$74.7M | −$76.1M | −$78.4M | −$97.0M | −$105.9M | −$96.9M | |
| Net income | −$69.3M | −$71.1M | −$73.9M | −$88.9M | −$92.6M | −$83.7M | |
| Diluted EPS | −$3.29 | −$3.31 | −$3.36 | −$3.50 | −$3.20 | −$2.87 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $2.4M · FY24 $8.6M · FY25 $0
Revenue by product · FY24
Balance sheet, Jun 30, 2026Cash & short-term investments $758.6M · Total debt $1.1M · Total assets $1.39B · Shareholders' equity $1.34B
Dividends
No dividends on record.
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 27.88M · Float 26.12M · 93.7% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Jupiter Topco LLC | 3.42M | 12.27% | 13F | Aug 14, 2026 |
| Janus Henderson Group PLC | 2.76M | 12.30% | 13G | Nov 14, 2025 |
| Orbis Investment Management Ltd | 2.47M | 8.90% | 13G | May 15, 2026 |
| FMR LLC | 2.32M | 8.31% | 13F | Aug 13, 2026 |
| BlackRock, Inc. | 2.29M | 8.22% | 13F | Aug 7, 2026 |
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 |
Peers
- Xenon Pharmaceuticals
Phase 3-proven Kv7 opener for focal seizures targeting NDA in Q3 2026.
- Jazz Pharmaceuticals
Epidiolex — $1.1B rare-epilepsy blockbuster — sets the DEE commercial bar.
- Stoke Therapeutics
SCN1A-upregulating ASO for Dravet; Phase 3 data expected mid-2027.
- Biohaven
Selective Kv7.2/7.3 activator opakalim in Phase 2/3 focal epilepsy; data 2H 2026.
- Harmony Biosciences
EPX-100 in Phase 3 for Dravet and LGS; commercial rare-neurology infrastructure.
- Neurocrine Biosciences
Multi-billion CNS commercial platform with early-phase epilepsy and tremor programs.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Praxis Precision Medicines | $344.75 | −0.11% | $9.61B | — | — | — | — |
| Xenon Pharmaceuticals | $59.99 | 0.00% | $5.80B | — | — | — | — |
| Jazz Pharmaceuticals | $244.54 | +0.02% | $15.36B | 16.7 | 9.7 | 3.3 | +15.6% |
| Stoke Therapeutics | $31.62 | +0.03% | $2.04B | — | — | 74.0 | −32.5% |
| Biohaven | $15.16 | −1.56% | $2.32B | — | — | — | — |
| Harmony Biosciences | $39.21 | −0.03% | $2.27B | 12.7 | 10.1 | 2.4 | +30.3% |
| Neurocrine Biosciences | $154.94 | +0.57% | $15.49B | 22.6 | 16.9 | 4.6 | +39.5% |
| Median | 16.7 | 10.1 | 4.0 | +22.9% |