PRAX - Value Of Praxis Precision Medicines' Lead Program In Essential Tremor Alone Is Underappreciated: Analyst | Benzinga
Needham initiated coverage on Praxis Precision Medicines Inc (NASDAQ:PRAX), a clinical-stage biopharmaceutical company, engaged in the development of therapies for central nervous system disorders.
The company’s lead product ulixacaltamide for essential tremor (ET) is undergoing Essential3 Phase 3 program, with topline results expected in the second half of 2024 to support a planned New Drug Application (NDA) submission in 2025.
- The analyst writes that sales of Ulixa for essential tremor (ET), if successful in Phase 3, could peak at over $1 billion in 2030 (60% probability of success).
- Needham writes, “value of ulixacaltamide in essential tremor alone is underappreciated at current levels.”
The analyst initiates with a Buy rating and a price target of $145.
The company’s second ...