Praxis Precision initiated with a Buy at JonesResearch

JonesResearch initiated coverage of Praxis Precision (PRAX) with a Buy rating and $83 price target Praxis is a clinical-stage biopharmaceutical company with three late-stage assets in development for the treatment of focal epilepsy and developmental and epileptic encephalopathies, the analyst tells investors in a research note. The firm sees blockbuster potential for each of the assets and believes the halting of the ESSENTIAL3 trial in essential tremor “has created a significant opportunity for investors to enter the name at a discount.”