Praxis Precision price target raised to $251 from $61 at TD Cowen

TD Cowen raised the firm’s price target on Praxis Precision (PRAX) to $251 from $61 and keeps a Buy rating on the shares. Praxis announced positive results from both Phase 3 Essential3 ET studies of ulixacaltamide, showing a statistically significant mADL 11 improvement. vs. placebo in study 1 and superior maintenance of effect in study 2, the analyst tells investors in a research note. These results were unexpectedly positive, strong and consistent, the firm says.