Guggenheim Raises Target on Praxis Precision Medicines (PRAX) to $800

Praxis Precision Medicines Inc. (NASDAQ:PRAX) is 1 of the 13 High-Risk High-Reward Growth Stocks to Invest In.

Guggenheim, connected February 10, raised its people terms connected Praxis Precision (PRAX) by 5.3% to $800 (from $760) and reiterated its Buy proposal connected the stock. The update comes arsenic the steadfast reassessed its estimates, done consultations with cardinal sentiment leaders, connected the imaginable interaction of Ulixacaltamide, an orally administered cause for indispensable tremors (ET). It present thinks that the cause tin instrumentality $5 cardinal to $10 cardinal successful highest income from the $15+ cardinal indispensable tremors market. The steadfast added that Praxis Precision remains 1 of its apical picks for 2026.

Ulixacaltamaide was granted “Breakthrough Therapy Designation” by the US Food and Drug Administration (FDA) past December 2025, pursuing a palmy Essential3 program. Marcio Souza, president and main enforcement serviceman of Praxis, had this to accidental astir the grant:

“The granting of the Breakthrough Therapy Designation for ulixacaltamide, based connected the Essential3 program, further underscores its imaginable to code the important unmet request successful patients with ET.”

This assistance volition alteration the FDA to prioritize the reappraisal of this drug, thereby expediting its go-to-market timeline. Praxis present plans to taxable a “New Drug Application (NDA)” by February 2026, arsenic mentioned by Marcio Souza successful a statement:

“We precocious completed a bid of affirmative interactions with the FDA, that, unneurotic with this BTD, are enabling america to beforehand this promising attraction faster to patients. We are diligently preparing for the filing of the ulixacaltamide NDA, which we expect successful aboriginal 2026.”

Praxis Precision Medicines Inc. (NASDAQ:PRAX) is simply a clinical-stage biopharma institution that focuses connected processing therapies targeting cardinal tense strategy disorders and familial epilepsies. The institution is based successful Boston, Massachusetts, and was founded successful September 2015 by Kiran Reddy, David Goldstein, and Steven Petrou.

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Disclosure: None. This nonfiction is primitively published astatine Insider Monkey.