May. 7 at 6:33 PM
Jefferies⬆️the PT on
$PRAX to
$550 (was
$525) and reiterated at Buy while noting a Catalysts Rich 2026-2027 for Praxis' Neurology Pipeline.
Here's what Jefferies had to say in its note to investors:
In 2026-27, we see a rich set of catalysts across PRAX's neuro pipeline, including:
(1) Vormatrigine (oral NaV), which has Phase II/III focal epilepsy data in Q2:26 (
$750M+ oppty).
(2) Relutrigine (oral NaV), which has a Sep 27, 2026 PDUFA in SCN2A/8A-DEE rare epilepsy (
$600M+ oppty) as well as Phase III data in Q4:26 in all DEEs (
$2B+ oppty),
(3) Ulixacaltamide (oral calcium channel), which has a Jan 29, 2027 PDUFA in ET tremor (
$3B+ oppty).