Oppenheimer raised the firm’s price target on Praxis Precision to $143 from $134 and keeps an Outperform rating on the shares. The firm notes the company reported positive topline results from its Phase 2 proof-of-concept of Relutrigine in SCN2A and SCN8A DEE patients. Given Oppenheimer’s efficacy expectations of 20%-30% seizure reduction, the firm is pleased to see placebo-adjusted monthly motor seizure reduction of 46% with an impressive over 30% of patients achieving seizure freedom status.
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