Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTMuhammad Ali KhalidThu, June 11, 2026 at 12:20 PM GMT+2 2 min readPraxis Precision Medicines Inc. (NASDAQ:PRAX) is one of the 10 best AI driven biotech stocks to invest in.On June 2, BTIG reduced the price target on Praxis Precision Medicines Inc. (NASDAQ:PRAX) from $843 to $810. The firm maintained a Buy rating on the stock, informing investors that although the company’s Phase 2/3 POWER1 trial of vormatrigine resulted in a revenue loss, there is still hope for a recovery for the program.Nestor Rizhniak/Shutterstock.comApproximately 90% of patients in the vormatrigine-arm moved into the open-label extension and stayed there; the 50% rate of response secondary indicator met the criteria, seizure diminution was more noticeable in the remainder of the study on the increased 30 mg dose, and detrimental event-related withdrawals had been less than 10%.Back on May 13, Truist Financial increased the price target from $700 to $715 while assuming a Buy rating for Praxis Precision Medicines Inc. (NASDAQ:PRAX). Truist highlighted that over the next six to eight months, the company is well-positioned for many value-inflecting events.This positive outlook is supported by the strong late-stage pipeline of de-risked assets. The firm also pointed out that Praxis’s late-stage portfolio may grow into a franchise worth billions of dollars.Praxis Precision Medicines Inc. (NASDAQ:PRAX) is involved in developing therapies to cure disorders related to the central nervous system, which are characterized by neuronal excitation-inhibition imbalance. These disorders include epilepsy, movement disorders, and depression. The company utilizes its proprietary platforms like Cerebrum and Solidus to target such imbalances.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: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.Disclosure: None. Follow Insider Monkey on Google News.Terms and Privacy PolicyPrivacy & Cookie SettingsMore Info