Analyst Ritu Baral of TD Cowen maintained a Buy rating on Praxis Precision Medicines, retaining the price target of $554.00.
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Ritu Baral has given his Buy rating due to a combination of factors tied to both clinical and financial strength at Praxis Precision Medicines. She highlights that the company has successfully submitted NDAs for ulixacaltamide in essential tremor and relutrigine in SCN2A/8A developmental and epileptic encephalopathies, with launches planned for late 2026 and early 2027, reinforcing a near-term commercialization path.
She also emphasizes the forthcoming Phase 3 POWER1 data for vormatrigine and Phase 1/2 EMBRAVE data for elsunersen in 2026 as additional value drivers beyond the first two launches, broadening the pipeline’s potential. In parallel, she notes a substantial cash position, extended by a significant January financing that is expected to fund operations into 2028 even with higher commercial expenses, providing the balance-sheet flexibility to execute fully resourced, high-impact launches and support ongoing R&D without near-term financing pressure.