Eupraxia Pharmaceuticals (NASDAQ:EPRX) Earns “Buy” Rating from HC Wainwright

Eupraxia Pharmaceuticals (NASDAQ:EPRX)‘s stock had its “buy” rating reissued by stock analysts at HC Wainwright in a report released on Thursday, MarketBeat Ratings reports. They presently have a $11.00 price target on the stock. HC Wainwright’s price target suggests a potential upside of 35.37% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Oppenheimer started coverage on Eupraxia Pharmaceuticals in a research note on Thursday, June 25th. They issued an “outperform” rating and a $17.00 target price for the company. Wall Street Zen upgraded Eupraxia Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Saturday, September 12th. Stifel Nicolaus set a $25.00 target price on Eupraxia Pharmaceuticals in a research note on Thursday, September 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research report on Friday, July 17th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research report on Wednesday, July 15th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.80.

Eupraxia Pharmaceuticals Price Performance

NASDAQ EPRX traded down $0.97 during trading hours on Thursday, hitting $8.13. The company had a trading volume of 1,056,176 shares, compared to its average volume of 321,792. Eupraxia Pharmaceuticals has a 52 week low of $5.25 and a 52 week high of $9.32. The firm has a 50 day simple moving average of $7.31 and a 200 day simple moving average of $7.02. The company has a debt-to-equity ratio of 0.02, a quick ratio of 16.00 and a current ratio of 16.00. The firm has a market capitalization of $528.35 million, a price-to-earnings ratio of -7.99 and a beta of 1.07.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last issued its earnings results on Tuesday, August 11th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.02. Equities research analysts expect that Eupraxia Pharmaceuticals will post -0.85 earnings per share for the current year.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

A number of large investors have recently modified their holdings of the company. Affinity Asset Advisors LLC raised its holdings in shares of Eupraxia Pharmaceuticals by 429.7% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,589,005 shares of the company’s stock valued at $11,504,000 after buying an additional 1,289,005 shares in the last quarter. Jupiter Topco LLC purchased a new position in shares of Eupraxia Pharmaceuticals during the 2nd quarter valued at about $6,851,000. Seven Fleet Capital Management LP purchased a new position in shares of Eupraxia Pharmaceuticals during the 1st quarter valued at about $5,137,000. Redmile Group LLC purchased a new position in shares of Eupraxia Pharmaceuticals during the 1st quarter valued at about $5,068,000. Finally, Rubric Capital Management LP purchased a new position in shares of Eupraxia Pharmaceuticals during the 1st quarter valued at about $5,004,000.

Eupraxia Pharmaceuticals Company Profile

Eupraxia Pharmaceuticals Inc (NASDAQ:EPRX) is a clinical-stage biotechnology company based in Canada. The company develops locally administered therapies intended to treat inflammatory, fibrotic and other diseases while limiting patients’ exposure to medication throughout the body.

Eupraxia’s development programs are built around its proprietary Diffusion Driven Drug Delivery (3D) platform. The technology is designed to provide controlled, sustained release of pharmaceutical compounds at targeted sites, potentially extending treatment effects and reducing systemic side effects.

The company’s lead product candidate, EP-104I, is an extended-release formulation of fluticasone propionate being developed for intra-articular administration in patients with osteoarthritis of the knee.