Praxis Precision price target raised to $843 from $507 at BTIG

BTIG raised the firm’s price target on Praxis Precision (PRAX) to $843 from $507 and keeps a Buy rating on the shares. The firm views the company’s launch of ulixacaltamide is “uniquely advantaged,” saying Praxis will build an “unprecedented” 1M essential tremor patient database that should translate into rapid uptake. BTIG increased its net U.S. price for ulixacaltamide to $36,000 from $14,000, citing its favorable pricing analogue analysis. The firm views its assumptions as conservative given management’s messaging indicating higher pricing. The market for VMAT2 inhibitors in tardive dyskinesia represents a good analogue for ulixacaltamide in essential tremors, but the latter will be a larger, less competitive, and commercially more attractive opportunity, the analyst tells investors in a research note. BTIG thinks Praxis has a “strong 2026 catalyst path.” It names the stock a top pick for 2026.