Praxis Precision Medicines Target Raised to $800 on $5–10B Ulixacaltamide Outlook
Guggenheim raised its target price on Praxis Precision Medicines by 5.3% to $800 from $760 and maintained a Buy rating. The firm now forecasts ulixacaltamide could achieve $5 billion to $10 billion in peak sales within the $15 billion essential tremors market and plans to file an NDA by February 2026 after receiving FDA Breakthrough Therapy designation.
1. Guggenheim Raises Target Price
On February 10, Guggenheim increased its 12-month price target on Praxis Precision Medicines by 5.3% to $800 from $760 while reiterating a Buy recommendation.
2. Ulixacaltamide Peak Sales Forecast
Following consultations with key opinion leaders, the firm projects ulixacaltamide could capture $5 billion to $10 billion in annual peak sales from the $15 billion essential tremors market.
3. FDA Grants Breakthrough Designation
Ulixacaltamide received FDA Breakthrough Therapy designation in December 2025 after the successful Essential3 program, enabling accelerated review and priority regulatory engagement.
4. NDA Filing Timeline
Praxis plans to submit a New Drug Application for ulixacaltamide by February 2026, leveraging recent positive interactions with the FDA and the Breakthrough Therapy status.