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Investing.com - Piper Sandler has reiterated an Overweight rating and $270.00 price target on Praxis Precision Medicines Inc . (NASDAQ:PRAX), currently trading at $45.94, following positive Phase 2 RADIANT FOS data. According to InvestingPro data, analysts maintain a bullish consensus on the stock, with price targets ranging from $33 to $270.
The research firm noted that vormatrigine demonstrated a consistent pharmacokinetic profile in refractory FOS patients compared to healthy volunteers, with a linear response across AUC and Cmax measurements. This effectively derisks the possibility that the 40 mg dose may drive deeper efficacy.
Praxis management specified that most discontinuations in the RADIANT trial occurred during weeks 1-3, while blinded Phase 2/3 POWER1 data is showing substantially fewer discontinuations thus far. The POWER1 trial is "at-least" 80% powered to show a placebo-adjusted 30% reduction in median seizure frequency.
The research firm highlighted that competitor data suggests consistent response across open-label and randomized placebo-controlled trials, strengthening confidence in vormatrigine’s potential performance.
Full RADIANT data and POWER1 completion are expected in the fourth quarter of 2025, according to information provided during a fireside chat hosted by Piper Sandler with Praxis management.
In other recent news, Praxis Precision Medicines has reported significant developments from its RADIANT trial, showcasing the effectiveness of its drug vormatrigine in reducing seizures. The trial demonstrated a 56.3% median reduction in seizure frequency, with a 67% responder rate, and 22% of patients achieving seizure freedom, despite most participants being on sodium channel blockers. This positive data has led multiple analyst firms to adjust their outlook on the company. Truist Securities maintained its Buy rating with a price target of $85, while H.C. Wainwright increased its price target to $115, also keeping a Buy rating. TD Cowen expressed optimism with a Buy rating and a $61 price target, highlighting vormatrigine’s performance as slightly exceeding expectations. Wedbush raised its price target to $33 but maintained an Underperform rating, citing challenges in data interpretation due to the study’s ongoing nature and lack of a placebo arm. Guggenheim, on the other hand, raised its price target significantly to $155 while maintaining a Buy rating, pointing to the impressive trial results. These recent developments underscore the ongoing interest and varied perspectives from analysts regarding Praxis Precision Medicines.
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