Praxis Precision price target raised to $175 from $150 at Truist

Truist raised the firm’s price target on Praxis Precision (PRAX) to $175 from $150 and keeps a Buy rating on the shares. The firm is incrementally positive on the company’s forthcoming ESSENTIAL3 Study 1 interim in Q1 of this year, followed by Study 2 topline, either at the time of Study 1 interim topline or shortly thereafter, while also raising its probability of success of ulixacaltamide in ET – essential tremor – from 50% to 70%, the analyst tells investors in a research note.