LifeSci Capital analyst Francois Brisebois maintained a Buy rating on Praxis Precision Medicines today and set a price target of $383.00.
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Francois Brisebois has given his Buy rating due to a combination of factors that highlight the potential of Praxis Precision Medicines, particularly focusing on their drug candidate, Ulixacaltamide. This medication is poised to make significant strides in the treatment of Essential Tremor (ET), a condition with a largely stagnant treatment landscape. The recent Phase 3 data for Ulixacaltamide suggests promising safety and efficacy, which could position it as a leading option in the ET market.
Furthermore, the commercial potential of Ulixacaltamide is substantial, given the unmet needs within the ET treatment paradigm. The involvement of Dr. Peter Hedera, an expert in movement disorders, underscores the credibility of the discussions surrounding Ulixacaltamide’s market positioning. These factors combined suggest a strong growth trajectory for Praxis Precision Medicines, justifying the Buy rating.
In another report released yesterday, H.C. Wainwright also maintained a Buy rating on the stock with a $232.00 price target.