Analysts Raise Price Targets on Praxis Precision Medicines Following Clinical Progress
Multiple analysts have raised price targets on Praxis Precision Medicines, with Wolfe Research initiating coverage at $500 and Guggenheim increasing its target to $800, citing strong market potential for ulixacaltamide in essential tremor.
Wolfe Research initiated coverage on Praxis Precision Medicines (NASDAQ:PRAX) on February 24, 2026, with an "Outperform" rating and a price target of $500.00. The initiation follows a series of price target increases from other analysts following the company's recent developments.
On February 10, Guggenheim raised its price target on Praxis Precision Medicines from $760 to $800 while maintaining a Buy rating. The firm's analysis and feedback from industry experts suggests ulixacaltamide's market adoption potential in essential tremor, supporting a market opportunity above $15 billion and projecting peak sales of $5-$10 billion. Praxis Precision Medicines maintained its position among Guggenheim's Top Picks for 2026.
On January 30, the price target on Praxis Precision Medicines was raised from $340 to $1,245 by H.C. Wainwright, which assigned a Buy rating to the stock with revised upside potential of 274%. The firm believes that ulixacaltamide has proven to be "transformative" for the company, while relutrigine is currently being ignored but will eventually drive "significant value" in the stock. The firm increased its highest sales predictions for both ulixacaltamide and relutrigine, with expected peak sales for relutrigine reaching $6.8 billion.
On February 20, 2026, multiple analysts adjusted their ratings. Truist Securities maintained a "Buy" rating and increased the price target from $500.00 to $700.00, a 40.00% rise. Baird maintained an "Outperform" rating, boosting the price target from $275.00 to $433.00, representing a 57.45% uplift. Wells Fargo maintained an "Equal-Weight" rating and raised the price target from $282.00 to $305.00, an 8.16% increase. Wedbush maintained an "Underperform" rating and raised the price target from $95.00 to $130.00, a 36.84% increase.
Based on the one-year price targets offered by 16 analysts, the average target price for Praxis Precision Medicines is $607.00 with a high estimate of $1,245.00 and a low estimate of $130.00. The average target implies an upside of 77.25% from the current price of $342.46. Based on the consensus recommendation from 16 brokerage firms, Praxis Precision Medicines' average brokerage recommendation is currently 1.9, indicating "Outperform" status.
Praxis Precision Medicines is set to release its Q4 2025 earnings on February 19, 2026. The consensus estimate for Q4 2025 revenue is $0.04 million, and the earnings are expected to come in at -$3.08 per share. The full year 2025's revenue is expected to be $0.04 million and the earnings are expected to be -$13.05 per share. Revenue estimates for 2026 have increased from $5.92 million to $15.38 million over the past 90 days. Earnings estimates for 2026 have declined from -$12.72 per share to -$13.17 per share over the past 90 days.
In the previous quarter of 2025-09-30, Praxis Precision Medicines' actual revenue was $0 million, which missed revenue expectations of $0.04 million by -100%. Actual earnings were -$3.36 per share, which beat earnings expectations of -$3.43 per share by 1.96%. After releasing the results, Praxis Precision Medicines was down by -4.14% in one day.
Praxis Precision Medicines is a clinical-stage biopharmaceutical company engaged in translating genetic insights into the development of therapies for patients affected by central nervous system disorders characterized by a neuronal excitation-inhibition imbalance. The company applies genetic insights to the discovery and development of therapies for neurological disorders through two proprietary platforms: Cerebrum and Solidus. It has established a diversified, multimodal CNS portfolio with four clinical-stage product candidates across movement disorders and epilepsy, which include Ulixacaltamide, Relutrigine, Vormatrigine, and Elsunersen.