H.C. Wainwright raised the firm’s price target on Praxis Precision (PRAX) to $232 from $115 and keeps a Buy rating on the shares. The positive topline data for ulixacaltamide in the ESSENTIAL3 studies “came as a big surprise” after the futility recommendation by the independent data monitoring committee at the interim analysis in February, says the analyst, who thinks Praxis is positioned to win FDA approval as early as late 2026 given the “robustness of the data.” The firm raised its view on the odds of success in essential tremor to 85% from 0% and projects peak sales of $3.3B in 2035, the analyst noted.
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