JonesResearch raised the firm’s price target on Praxis Precision (PRAX) to $441 from $83 and keeps a Buy rating on the shares. The company announced positive results for the Phase III Essential3 program of ulixacaltamide in essential tremor, the analyst tells investors in a research note. The firm sees potential for “rapid uptake” of the drug given the limited treatment options available to patients. Ulixacaltamide can reach blockbuster status in 2028, assuming approval in Q1 of 2027, with sales “conservatively estimated” at $12.2B in 2032, contends JonesResearch.
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