Chardan raised the firm’s price target on Praxis Precision (PRAX) to $330 from $80 and keeps a Buy rating on the shares. The company reported positive results from the Phase 3 studies of ulixacaltamide in essential tremor, which was an upside surprise given the very low expectations entering the event, the analyst tells investors in a research note. The firm believes the current data would be adequate to support a new drug application filing in early 2026 “despite some moving parts of the trials/data.” Chardan models a “conservative” $2.5B in peak sales and 80% probability of success.
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