H.C. Wainwright analyst Douglas Tsao lowered the firm’s price target on Praxis Precision (PRAX) to $105 from $120 and keeps a Buy rating on the shares. While the essential tremor readout a disappointment, there are “plenty of reasons to remain bullish” with vormatragine and relutragine, the analyst tells investors in a research note. The firm says its thesis on the shares has been based on Praxis Precision’s epilepsy portfolio, so Friday’s news ultimately doesn’t change its view on the name.
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