Needham raised the firm’s price target on Praxis Precision to $151 from $145 and keeps a Buy rating on the shares. The stock finished up 4% after the conference call on Phase 2 EMBOLD study data, and the uptick on the shares was not unexpected given the positive data for relutrigine in the Phase 2 proof of concept study where it demonstrated a placebo-adjusted reduction of 46% in motor seizures and 33% of patients achieving seizure freedom, the analyst tells investors in a research note.
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