Guggenheim Raises Target on Praxis Precision Medicines (PRAX) to $800

Core Viewpoint - Praxis Precision Medicines Inc. is identified as a high-risk, high-reward growth stock, with Guggenheim raising its target price to $800, reflecting a 5.3% increase from the previous target of $760, and reiterating a Buy recommendation based on reassessed estimates for its drug Ulixacaltamide [1][4]. Group 1: Company Overview - Praxis Precision Medicines Inc. is a clinical-stage biopharma company focused on developing therapies for central nervous system disorders and genetic epilepsies, founded in September 2015 and based in Boston, Massachusetts [4]. Group 2: Drug Development and Market Potential - Ulixacaltamide, an orally administered drug for essential tremors, is projected to achieve peak sales between $5 billion and $10 billion within a $15+ billion market for essential tremors [1]. - The drug received "Breakthrough Therapy Designation" from the FDA in December 2025, which will expedite its review process and go-to-market timeline [2]. - Praxis plans to submit a New Drug Application (NDA) for Ulixacaltamide by February 2026, following positive interactions with the FDA [2].