Praxis Precision price target raised to $48 from $40 at Wedbush

Wedbush raised the firm’s price target on Praxis Precision to $48 from $40 and keeps a Neutral rating on the shares. The firm notes the company disclosed an interim analysis in the Essential3 Study 1. The assessment will include a sample size re-estimation. Given the challenges associated with recent ET studies and limited prospective data surrounding the mADL primary endpoint it would appear prudent, Wedbush says. Following the update, the firm is making minor adjustments to its estimates. Wedbush remains cautious on the ET opportunity.