Praxis Precision Medicines: Late-Stage CNS Pipeline and 2026 Catalyst Stack Underpin Reiterated Buy Rating

Praxis Precision Medicines, the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Francois Brisebois from LifeSci Capital reiterated a Buy rating on the stock and has a $534.00 price target.

Francois Brisebois has given his Buy rating due to a combination of factors supporting Praxis Precision Medicines’ growth outlook and risk-reward profile. He points to the company’s strong late-stage pipeline, emphasizing that ulixacaltamide for essential tremor is moving toward a mid-February 2026 NDA filing on the back of robust Phase 3 results, favorable FDA interactions including Breakthrough Therapy designation, and a large underserved U.S. patient population. He also highlights relutrigine for developmental and epileptic encephalopathies, where the pivotal EMBOLD trial was stopped early for efficacy and the FDA has agreed that existing data can support safety and efficacy claims in SCN2A and SCN8A DEEs, with an NDA submission targeted on a similar timeline. In focal onset seizures, he notes that the upcoming POWER1 Phase 2/3 readout for vormatrigine in the first half of 2026 is relatively de-risked and has generated enthusiasm among key opinion leaders.

Brisebois further underscores that physicians he consulted expressed strong interest in both relutrigine and vormatrigine, reinforcing confidence in commercial uptake if approved. He also views the Elsunersen program as an additional upside opportunity, with multiple clinical readouts expected in 2026 that are not yet incorporated into his valuation. In his view, the company’s active preparation for commercialization—including leadership hires, infrastructure build-out, and expanded disease awareness initiatives—positions Praxis to capitalize on potential approvals. Combined with a bolstered balance sheet and a dense calendar of regulatory and clinical catalysts in 2026, these elements support his decision to reiterate a positive rating on the stock.

In another report released yesterday, Needham also reiterated a Buy rating on the stock with a $460.00 price target.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is neutral on the stock.