Praxis Precision Medicines stock jumps after FDA Breakthrough Therapy tag for tremor drug, BTIG lifts target
Praxis Precision Medicines shares jumped 13.25% to $304.58 Monday after the FDA granted Breakthrough Therapy Designation to ulixacaltamide for essential tremor. The company plans to file a New Drug Application in early 2026. BTIG raised its price target on PRAX to $843 from $507. The stock slipped about 1% in after-hours trading.