Analyst Ami Fadia from Needham reiterated a Buy rating on Praxis Precision Medicines and keeping the price target at $510.00.
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Ami Fadia has given his Buy rating due to a combination of factors, chiefly Praxis’s steady evolution toward becoming a commercial-stage company supported by late-stage programs that together could ultimately address a multibillion-dollar market opportunity. She highlights that new drug applications for Ulixacaltamide and Relutrigine have recently been filed, with commercialization groundwork already in motion ahead of potential approvals.
Fadia also notes that Ulixacaltamide’s filing includes a flexible dosing approach that did not require additional clinical trials, reinforcing confidence in a clean regulatory package. While there are modest adjustments to certain development timelines, the overall pipeline remains intact, and upcoming milestones such as NDA acceptance decisions, pivotal POWER1 data, and dedicated R&D and commercial events in 2Q26 support her constructive outlook and continued Buy recommendation.