Strange gap in Praxis stock: target of $1,201 for a stock trading at $240

Strange gap between the pharmaceutical company's stock price: while the stock trades at $240, a pair of investment firms give it a target of $826 and $1,201 📡

$PRAX 🔎

Let's start from the beginning: what Praxis company does:

Praxis develops drugs for nervous system diseases: epilepsy, and another common movement disorder that causes hand tremors. 🩺

In December 2025, the FDA granted the company's drug breakthrough therapy designation ✔️

According to the company, its drug is the first and only experimental drug to show positive results in a Phase 3 program for essential tremor. 🩺

And the stock? Within a year, it rose from about $50 to $386 at the close on August 12. 📈

Then the correction came... 📉

Since its peak, it has fallen over 30%. 🔽

And this is exactly where the strange movements we identified began:

August 21 - Goldman Sachs raises its target from $470 to $575. 📈

September 24 - HC Wainwright reiterates a buy recommendation with a target of $1,201. 📈

October 6 - BTIG raises its target from $810 to $826, 195% above the close on that day

And on the exact same day, the investment firm HC Wainwright again reiterates its target - 328% above the company's stock closing price on that day. 📈

For other investment firms, the average price target stands at 133% above the current price, and these two analysts set targets with potential 2.4 and 4 times higher than that. 🔎

The market saw a drop of more than a quarter from the peak and sold off - a pair of investment firms did not budge from their targets, and one of them even raised the price target. 💡

Let's try to understand why analysts are giving the company such high stock prices:

We checked the calendar - two of the company's drugs are already awaiting FDA decisions. 🇺🇸

December 27 - decision date for the company's drug - relutrigine - for the treatment of a rare and severe genetic epilepsy. 🩺

January 29, 2027 - decision date for ulixacaltamide for essential tremor,

According to the company, the FDA completed its mid-cycle review without identifying any significant safety or efficacy issues so far. 🇺🇸

With two investment firms holding targets almost 3 times and more than 4 times the price, less than three months before the FDA decision - we marked this as an event to watch 📡

A look at institutional accumulation trends in the company's stock reveals that for two years, institutional investors have consistently accumulated shares of this company - the number of institutionally owned shares only increases and does not decrease. 🏦

In addition - we identified that US Congressman Gil Cisneros also made a personal purchase of $PRAX shares in the last month. 🇺🇸

We are monitoring 🔎