Praxis Precision Medicines Receives FDA Breakthrough Therapy Designation, Stock Rises 13.25%
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2h ago
0mins
Source: Fool
- Significant Stock Surge: Praxis Precision Medicines saw its stock price increase by over 13% following the FDA's Breakthrough Therapy Designation for its experimental tremor treatment ulixacaltamide, reflecting strong market confidence in its future potential.
- FDA Certification Accelerates Development: This designation was granted based on encouraging results from two recent phase 3 studies, aimed at expediting the development and regulatory review of ulixacaltamide, enabling the company to bring this promising therapy to market faster to meet urgent patient needs.
- Substantial Market Need: Approximately 7 million people in the U.S. are affected by essential tremor, with current treatment options being largely ineffective and poorly tolerated, making ulixacaltamide's development crucial to address this significant medical gap and improve patient quality of life.
- Clear Future Plans: Praxis plans to submit a New Drug Application for ulixacaltamide in early 2026, and the positive interactions with the FDA indicate the company's commitment and strategic positioning in advancing this promising treatment option.
PRAX
$304.58+Infinity%1D
Analyst Views on PRAX
Wall Street analysts forecast PRAX stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for PRAX is 327.08 USD with a low forecast of 250.00 USD and a high forecast of 540.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
14 Analyst Rating
14 Buy
0 Hold
0 Sell
Strong Buy
Current: 268.950
Low
250.00
Averages
327.08
High
540.00
Current: 268.950
Low
250.00
Averages
327.08
High
540.00
About PRAX
Praxis Precision Medicines, Inc. is a clinical-stage biopharmaceutical company translating genetic insights into the development of therapies for central nervous system disorders characterized by neuronal excitation-inhibition imbalance. The Company is applying genetic insights to the discovery and development of therapies for neurological disorders through two platforms, using its understanding of shared biological targets and circuits in the brain. Its platform includes Cerebrum, a small-molecule platform, which utilizes deep understanding of neuronal excitability and neuronal networks and applies a series of computational and experimental tools to develop orally available precision therapies, and Solidus, an antisense oligonucleotide platform, is an efficient, targeted precision medicine discovery and development engine anchored on a proprietary, computational methodology. The Company’s product candidates include ulixacaltamide, vormatrigine, relutrigine, PRAX-080, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
