LifeSci Capital analyst Francois Brisebois reiterated a Buy rating on Praxis Precision Medicines today and set a price target of $406.00.
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Francois Brisebois has given his Buy rating due to a combination of factors that indicate strong potential for Praxis Precision Medicines. The successful completion of the pre-NDA meeting for Ulixacaltamide provides regulatory clarity, which is particularly reassuring given the previous scrutiny over its trial. This achievement positions the company favorably for its planned NDA submission in early 2026, suggesting confidence in their regulatory strategy.
Additionally, the positive interim results from the EMBOLD study for Relutrigine, which led to an early stop for efficacy, further bolster the company’s prospects. The strong efficacy signal observed in the trial aligns with regulatory expectations and supports the basis for an NDA submission. These developments are seen as de-risking milestones, prompting an increase in the price target and reinforcing the Outperform rating for the stock.
In another report released today, Needham also maintained a Buy rating on the stock with a $304.00 price target.