In a report released today, Ami Fadia from Needham maintained a Buy rating on Praxis Precision Medicines (PRAX – Research Report), with a price target of $150.00.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Ami Fadia has given his Buy rating due to a combination of factors surrounding the potential outcomes of the ulixacaltamide’s interim analysis. Fadia outlines several scenarios for the Phase 3 Study 1, each with varying probabilities and implications for the stock’s performance.
The most optimistic scenario, although with a low probability of success, could lead to a substantial upside if the trial ends early due to overwhelming efficacy. Other scenarios, such as staying the course or re-sizing the sample, present moderate upside potential or stability depending on the study’s execution and investor perceptions. While there is a risk of futility, Fadia’s assessment seems to lean on the overall potential for positive developments, making the stock a viable buy option despite inherent uncertainties.
In another report released on January 31, Piper Sandler also maintained a Buy rating on the stock with a $270.00 price target.