Praxis Precision Medicines Inc. (PRAX) PT Raised to $750 (from $250) at Oppenheimer

Oppenheimer analyst Jay Olson raised the price target on Praxis Precision Medicines Inc. (NASDAQ: PRAX) to $750.00 (from $250.00) while maintaining a Outperform rating.

The analyst comments "We see substantial momentum building for PRAX as recent clinical and regulatory updates derisk large commercial opportunities that we believe remain undervalued. PRAX now plans an NDA filing in early 2026 for relutrigine in SCN2A/8A patients following FDA discussions, enabling approval and launch in 2027. We believe the positive Ph2/3 EMBOLD study and critical need for treatment support accelerated uptake and a high value proposition to payors. Meanwhile, the Ph3 EMERALD study could unlock label expansion into broader DEEs. PRAX also reported FDA alignment on an efficient pathway for elsunersen in early-onset SCN2A patients where we see a differentiated opportunity. We met with management and view AES updates as reinforcing our conviction. We update our model reflecting these dynamics, driving our new $750 PT vs. $250 prior."

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