Praxis Precision Medicines (PRAX) could see greater commercial upside from its relutrigine epilepsy program as the rare epilepsy market may support premium pricing for the therapy, RBC Capital Markets said in a Friday note.

The firm said discussions with management and a review of existing developmental and epileptic encephalopathy therapies suggest relutrigine could sustain a list price of about $450,000 to $650,000.

RBC said the higher price could result in stricter payer requirements and initially limit use to patients with more severe disease. Even so, the firm now projects relutrigine revenue of about $2.6 billion by 2035, above the consensus estimate of about $2.45 billion.

The firm also said management has not yet decided the path forward for vormatrigine following the recent POWER1 setback, although it continues to evaluate the program.

RBC maintained its outperform rating on Praxis Precision Medicines and its $449 price target.