Chardan has begun coverage on Praxis Precision (PRAX, Financial) with a Buy rating and set a price target of $80. This optimistic outlook stems from the promising potential of the company's epilepsy franchise, which is currently progressing with several products moving into late-stage trials. Although Praxis's lead asset, ulixacaltamide, did not meet expectations in the recent interim analysis of its Phase 3 trial for essential tremor, the company is now focusing its efforts on its epilepsy initiatives.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 11 analysts, the average target price for Praxis Precision Medicines Inc (PRAX, Financial) is $99.27 with a high estimate of $270.00 and a low estimate of $28.00. The average target implies an upside of 182.27% from the current price of $35.17. More detailed estimate data can be found on the Praxis Precision Medicines Inc (PRAX) Forecast page.
Based on the consensus recommendation from 11 brokerage firms, Praxis Precision Medicines Inc's (PRAX, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
