U.S. Stock Market Midday Update: FDA Breakthrough Therapy Designation Boosts Praxis Stock Price by 15.83%, Analysts Optimistic About Outlook

U.S. Stock Market Midday Update Praxis Precision Medicines rose 15.83%. Based on recent key news: On December 29, the U.S. FDA granted breakthrough therapy designation to ulixacaltamide for the treatment of essential tremor. This designation was based on positive data from the Essential3 trial, driving Praxis's stock price up by approximately 17%. Source: RTT News On December 29, BTIG listed Praxis Precision Medicines as a preferred target for 2026 and raised the target price to $843, indicating a potential upside of over 213%. This move further propelled the stock price upward. Source: MarketWatch On December 29, Praxis Precision Medicines announced plans to submit a new drug application for ulixacaltamide in early 2026, causing the stock price to rise nearly 13%. Source: WSJ The biopharmaceutical industry has recently shown strong performance, with significant capital inflows. Top Stocks by Industry Trading Volume Amgen fell 0.49%. Based on recent key news: On December 27, Amgen reported its third-quarter earnings, with total revenue increasing by 4.1%, exceeding market expectations. Despite the strong earnings report, concerns about future growth remain, leading to a slight decline in stock price. Source: Seeking Alpha On December 11, Amgen's drug Uplizna received FDA approval for the treatment of chronic neuromuscular diseases. This approval enhanced Amgen's product portfolio but failed to immediately boost the stock price. Source: Seeking Alpha No other significant news recently. The overall industry performance is stable, with active capital flows. Ultragenyx Pharmaceuticals fell 43.96%. Based on recent key news: On December 29, Ultragenyx Pharmaceuticals announced that its investigational drug setrusumab failed to meet the primary efficacy endpoint in late-stage clinical trials. The drug, intended for the treatment of osteogenesis imperfecta, did not significantly reduce the clinical fracture rate. This news led to a substantial stock price drop of 43%. Source: Reuters On December 29, the company stated it would conduct additional analyses and plans to implement significant cost reductions in response to the trial results. This move further intensified market concerns about the company's future operations. Source: MT Newswires On December 29, Ultragenyx Pharmaceuticals' stock price fell 43% in pre-market trading and was halted. The company confirmed the trial results in an SEC filing and plans to implement cost reductions. Source: SEC Announcement The gene therapy industry faces R&D risks, with noticeable capital outflows AbbVie rose by 0.54%. Based on recent news, On December 28, AbbVie's cash payout ratio was 61.8%, indicating strong fundamentals and a positive outlook for the next decade. Analysts believe the stock presents a strong buying opportunity until 2026, which boosted market confidence and drove the stock price up. On December 28, although AbbVie currently holds a "Moderate Buy" rating among analysts, top analysts believe there are five stocks that are more worthy of investment than AbbVie. This news may affect the sentiment of some investors, but overall it did not prevent the stock price from rising. On December 28, market observers noted that AbbVie has performed well over the past year and shows no signs of slowing down. This further enhances investor confidence in the stock. The overall market is performing well, with significant capital inflow. Stocks ranked among the top in industry market capitalization Gilead Sciences fell by 0.14%. No significant news recently; trading is active, and capital flow is evident. Considering sector and industry trends, the stock shows notable volatility, and specific reasons need further observation. no_news