Praxis Precision price target raised to $305 from $282 at Wells Fargo

Wells Fargo raised the firm’s price target on Praxis Precision (PRAX) to $305 from $282 and keeps an Equal Weight rating on the shares. The firm recently initiated coverage with the view that risk/reward is balanced heading into the Ulixadolid FDA review. Wells thinks early discontinuations are hard to handicap, and says it is surprised that priority review wasn’t requested given the drug’s Breakthrough Therapy Designation.