Praxis Precision price target lowered to $65 from $111 at Deutsche Bank

Deutsche Bank analyst David Hoang lowered the firm’s price target on Praxis Precision (PRAX) to $65 from $111 and keeps a Buy rating on the shares. The company announced negative results from the interim readout of ulixacaltamide in essential tremor, the analyst tells investors in a research note. The firm views as a “clearing event” which lifted an overhang on the shares.