Praxis Precision price target raised to $315 from $304 at Needham

Needham raised the firm’s price target on Praxis Precision (PRAX) to $315 from $304 and keeps a Buy rating on the shares. The key driver for the firm’s price target change is the updated vormatrigine data in FOS in 65 patients, which meaningfully improved its competitive differentiation on efficacy with a change from baseline seizure frequency of 100% and the percentage of patients with 100% seizure reduction growing to over 33%, the analyst tells investors in a research note.