In a report released today, Ami Fadia from Needham maintained a Buy rating on Praxis Precision Medicines, with a price target of $304.00.
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Ami Fadia has given his Buy rating due to a combination of factors that highlight the potential of Praxis Precision Medicines. The company recently announced a positive pre-NDA meeting with the FDA, which is a significant milestone indicating regulatory progress. Additionally, the positive interim analysis and early stop for efficacy in the EMBOLD study of Relutrigine further bolster confidence in the company’s pipeline.
Ami Fadia also points to the upcoming data releases, including updated Relutrigine data in focal onset seizures and data in generalized seizures at the AES conference, as potential catalysts for the stock. These developments, alongside the raised price target to $304, reflect a strong belief in the company’s future performance and its ability to overcome current challenges.
In another report released today, Piper Sandler also maintained a Buy rating on the stock with a $450.00 price target.
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is neutral on the stock.