Praxis Precision Medicines Inc. (PRAX) Secures Analyst Confidence After Key FDA and Trial Wins

Praxis Precision Medicines Inc. (NASDAQ:PRAX) is one of the best 52-week high stocks to buy right now. Piper Sandler on December 5 reaffirmed its Overweight rating and $450 target on Praxis Precision Medicines (NASDAQ:PRAX) after two key regulatory wins.

Praxis Precision Medicines Inc. (PRAX) Secures Analyst Confidence After Key FDA and Trial Wins

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The company’s pre-NDA meeting with the FDA confirmed its ulixacaltamide data package for Essential Tremor is on track for an NDA filing in early 2026. Analysts also highlighted strong interim results from the Phase 2/3 EMBOLD trial of relutrigine for SCN2A/SCN8A developmental and epileptic encephalopathy, which was stopped early because it met efficacy goals.

A day earlier on December 4, H.C. Wainwright’s Douglas Tsao reiterated a Buy rating on Praxis Precision Medicines with a $258 price target, citing the strength of its ESSENTIAL3 program for ulixacaltamide, supported by sensitivity analyses, expert validation, and FDA precedent review. His confidence was echoed by BTIG, which on December 2 initiated coverage with a Buy and a higher $424 target, underscoring optimism around the company’s pipeline and regulatory outlook.

On November 24, Praxis Precision received a Buy rating from TD Cowen, which also reiterated a $251 price target. The research firm’s positive stance is in response to positive topline results for ulixacaltamide (ulixa), Praxis’s treatment for essential tremor (ET).

Praxis Precision Medicines, Inc. (NASDAQ:PRAX) is a biopharmaceutical company that develops therapies for neurological disorders, leveraging genetic insights to create targeted treatments for complex brain disorders such as epilepsy, movement disorders, and psychiatric conditions.

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