TD Cowen on Praxis Precision Medicines Inc. (PRAX): 'Sensitivity Analyses Robust & Supportive Of Topline'

TD Cowen analyst Ritu Baral reiterated a Buy rating and $251.00 price target on Praxis Precision Medicines Inc. (NASDAQ: PRAX).

The analyst commented: "Takeaways From Stats Call: Sensitivity Analyses Robust & Supportive Of Topline; We hosted our biostat expert to discuss PRAX's Ph3 ET ulixa data. She believes the sensitivity analyses conducted were rigorous, appropriately conservative, and supportive of the 1o EP results. Together, the analyses are likely sufficient to prove ulixa's efficacy to the FDA. However, tolerability concerns may have to be addressed, which we think can be mitigated by PM dosing and slower titration.

Overall, we believe the totality of the stats analyses generated will likely be sufficient to prove ulixa's efficacy to the FDA. Our stats consultant believes the sensitivity analyses conducted for study 1 are rigorous and conservative, also highlighting that PRAX has two positive, stat sig Ph3 ET studies with mutually supportive data. She does believe PRAX will likely need to address the topic of tolerability before approval, which we think may be significantly mitigated with PM dosing and slower titration."

For an analyst ratings summary and ratings history on Praxis Precision Medicines Inc. click here. For more ratings news on Praxis Precision Medicines Inc. click here.

Shares of Praxis Precision Medicines Inc. closed at $169.80 yesterday.

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