Guggenheim Raises Price Target for Praxis Precision Medicines (PRAX)

Praxis Precision Medicines (NASDAQ:PRAX) is one of the 17 biotechnology stocks with more than 50% upside.

On February 10, Guggenheim analyst Yatin Suneja raised the price target on Praxis Precision Medicines (NASDAQ:PRAX) from $760 to $800. He maintained a Buy rating on the stock, which he believes offers more than 140% upside.

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Suneja highlighted his analysis and feedback from industry experts, which suggests ulixacaltamide’s market adoption potential in essential tremor, supporting a market opportunity above $15 billion and projecting peak sales of $5-$10 billion. Praxis Precision Medicines (NASDAQ:PRAX) also maintained its position of being among Guggenheim’s Top Picks for 2026.

Back on January 30, the price target on Praxis Precision Medicines (NASDAQ:PRAX) was raised from $340 to $1,245 by H.C. Wainwright analyst Douglas Tsao as well. The analyst assigned a Buy rating to the stock with revised upside potential of 274%.

Tsao believes that ulixacaltamide has proven to be “transformative” for the company. At the same time, relutrigine is currently being ignored but will eventually drive “significant value” in the stock. He increased his highest sales predictions for both ulixacaltamide and relutrigine. Notably, his outlook for relutrigine is much more optimistic, with expected peak sales reaching $6.8 billion.

Praxis Precision Medicines (NASDAQ:PRAX) is involved in developing therapies to cure disorders related to the central nervous system, which are characterized by neuronal excitation-inhibition imbalance. These disorders include epilepsy, movement disorders, and depression. The company utilizes its proprietary platforms like Cerebrum and Solidus to target such imbalances.

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Disclosure: None. This article is originally published at Insider Monkey.