In a report released today, Ritu Baral from TD Cowen maintained a Buy rating on Praxis Precision Medicines, with a price target of $251.00.
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Ritu Baral has given her Buy rating due to a combination of factors including positive outcomes from Praxis Precision Medicines’ Phase 3 studies for ulixacaltamide. The studies demonstrated significant improvements in essential tremor symptoms compared to placebo, highlighting the drug’s efficacy. Additionally, the management’s strategic adjustments and statistical consultations have reinforced confidence in the study’s results, despite initial challenges with sample size and variability.
Furthermore, the tolerability profile of ulixacaltamide, while noting some side effects like dizziness and brain fog, was generally well-received, with no serious adverse events reported. The company’s proactive steps towards a New Drug Application (NDA) submission, anticipated in early 2026, and the potential for substantial market impact with projected peak sales by 2034, contribute to the optimistic outlook and increased price target for the stock.
In another report released today, Guggenheim also maintained a Buy rating on the stock with a $350.00 price target.