BTIG analyst Kambiz Yazdi raised the firm’s price target on Praxis Precision (PRAX) to $507 from $499 and keeps a Buy rating on the shares. The company’s Relutrigine demonstrated seizure reduction in SCN2A/SCN8A DEEs – Developmental and Epileptic Encephalopathy – in EMBOLD Cohort 2 that exceeded the firm’s expectations, delivering numerically stronger results than those observed in Cohort 1. The next step will be to review the relutrigine data with the FDA, after which Praxis will determine the appropriate timing for an NDA submission, the firm added.
Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on PRAX:
- Promising Clinical Data and Strategic Developments Drive Buy Rating for Praxis Precision Medicines
- Midday Fly By: Netflix to buy Warner Bros., HP Enterprise posts mixed Q4
- Praxis Precision rises 34.7%
- Praxis Precision rises 35.9%
- Praxis Precision price target raised to $303 from $270 at Deutsche Bank