Guggenheim analyst Yatin Suneja raised the firm’s price target on Praxis Precision to $170 from $155 and keeps a Buy rating on the shares. A planned interim analysis for the ulixacaltamide Essential3 Study 1 will be conducted in Q4, a new disclosure likely triggered by a competitive data readout where the placebo response was unusually high, the analyst tells investors in a research note. The firm likes the risk-reward into the readout and thinks the stock could move 2-3x/-30% on ET data.
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