Praxis Precision initiated with a Strong Buy at Raymond James

Raymond James last night initiated coverage of Praxis Precision (PRAX) with a Strong Buy rating and $815 price target The firm says the bear thesis on the name “is a conclusion in search of facts.” Ulixacaltamide’s potential FDA approval in early 2027 is the key catalyst for the stock over the next 12 months, the analyst tells investors in a research note. penalty. At Praxis’ current valuation, Raymond James believes investors are “materially underpricing” ulixacaltamide’s probability of approval.