Praxis Precision Shares Rally On Price Target Hikes: Analyst Sees Upside As High As 100% For Stock

• Truist raised the firm's price target on Praxis Precision to $700 from $500 and maintained a ‘Buy’ rating on the shares.
• Wells Fargo said it is surprised that priority review wasn't requested for Ulixadolid given the drug's Breakthrough Therapy Designation.
• Wedbush continues to hold reservations on the ulixacaltamide filing.

Shares of Praxis Precision Medicines, Inc. (PRAX) rallied 2% on Friday after analysts hiked their price targets on the stock, one as much as $700. The hikes come amid optimism spurred by the company’s recent submissions to the U.S. Food and Drug Administration.

Praxis said on Thursday that it made two submissions earlier this year to the FDA, seeking clearance to market ulixacaltamide for the treatment of essential tremor and relutrigine for the treatment of the neurodevelopmental disorder called Developmental and Epileptic Encephalopathy. Both the experimental drugs were previously granted the Breakthrough Therapy Designation by the FDA.

“Pending their expected positive reviews, we will be positioned to transition into a commercial company,” said Praxis CEO Marcio Souza. “The other two programs in the clinic, vormatrigine and elsunersen, will both have topline results in the first half of 2026, keeping us on track for additional NDA submissions in the next two years. Together, these four assets have a revenue potential of over $20 billion.”

Analysts React

Subsequently, Wedbush raised the firm's price target on Praxis Precision to $130 from $95 and kept an ‘Underperform’ rating on the shares, according to TheFly. The firm said that the most notable in the Q4 2025 update was that management completed submissions for both ulixacaltamide and relutrigine. Acceptance of the application likely arrives mid-April, while management requested priority review solely for relutrigine, not ulixacaltamide, the firm noted. Wedbush continues to hold reservations on the ulixacaltamide filing.

Wells Fargo, meanwhile, raised the firm's price target on Praxis Precision to $305 from $282 and kept an ‘Equal Weight’ rating on the shares. The firm recently initiated coverage with the view that risk/reward is balanced heading into the Ulixadolid FDA review. It further added that it is surprised that priority review wasn't requested given the drug's Breakthrough Therapy Designation.

Truist, meanwhile, raised the firm's price target on Praxis Precision to $700 from $500 and maintained a ‘Buy’ rating on the shares. The company's Q4 update was "notable" for its completed NDA submissions, the analyst told investors in a research note.

Praxis’ Financial Position

On Thursday, Praxis reported net loss per share of $3.5 for the fourth quarter (Q4), compared to an analyst estimate of $3.1

The company ended 2025 with $926.1 million in cash, cash equivalents and marketable securities. This, coupled with the $621.2 proceeds from a Jan. 2026 follow-on public offering, are expected to fund operations into 2028, the company said.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around PRAX stock stayed within the ‘bullish’ territory over the past 24 hours, while message volume remained at ‘high’ levels.

According to data from Koyfin, the average 12-month price target on the stock is $599.94, representing a potential upside of about 81% from the last closing price.

PRAX stock has more than quadrupled in value over the past 12 months. 

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