Praxis Precision Medicines (NASDAQ:PRAX) Rating Reiterated by HC Wainwright

Praxis Precision Medicines is a biopharmaceutical company focused on developing and commercializing targeted therapies for cancer patients. The company's lead product candidate is PPM-1640, an oral selective inhibitor of the PI3K/AKT pathway that is currently in Phase 2 clinical trials for the treatment of relapsed or refractory diffuse large B-cell lymphoma (DLBCL).

On August 18, 2021, HC Wainwright reiterated its NASDAQPRAX rating of "Outperform" and increased its price target to $35.00 per share from the previous $27.00. The company's stock is currently trading at around $14.00 per share on the NASDAQ Global Select Market.

The reiteration of the rating by HC Wainwright reflects the company's continued progress in developing and advancing its lead product candidate, PPM-1640. The Phase 2 clinical trial for PPM-1640 is currently enrolling patients and is expected to read out data in the first half of 2022.

In addition to PPM-1640, Praxis Precision Medicines also has a pipeline of other product candidates in development, including PPM-1630, an oral selective inhibitor of the PI3K/AKT pathway for the treatment of relapsed or refractory follicular lymphoma (FL), and PPM-1650, an oral selective inhibitor of the PI3K/AKT pathway for the treatment of relapsed or refractory mantle cell lymphoma (MCL).

Overall, the reiteration of the NASDAQPRAX rating by HC Wainwright reflects the company's continued progress in developing and advancing its pipeline of product candidates, as well as its potential for long-term growth and success in the biopharmaceutical industry.