JonesTrading analyst Justin Walsh has reiterated their bullish stance on PRAX stock, giving a Buy rating today.
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Justin Walsh has given his Buy rating due to a combination of factors related to Praxis Precision Medicines’ promising developments. The company has reported positive topline results from its Phase III Essential3 program for ulixacaltamide in treating essential tremor, which has become a significant value driver for the stock. The FDA’s agreement to a pre-NDA meeting in the fourth quarter of 2025 further supports the potential for regulatory approval, enhancing investor confidence in the company’s future prospects.
Additionally, Walsh highlights the underappreciated potential of the essential tremor market, estimating significant risk-adjusted sales in the U.S. at peak penetration. Furthermore, the company’s diverse portfolio, including promising assets in epilepsy treatment, offers additional growth opportunities. This diversified approach, combined with the anticipated commercial success of ulixacaltamide, underpins the Buy rating and the $441 price target.