Eupraxia Pharmaceuticals’ (EPRX) “Buy” Rating Reaffirmed at HC Wainwright

Eupraxia Pharmaceuticals (NASDAQ:EPRX)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a note issued to investors on Thursday, Marketbeat.com reports. They currently have a $11.00 price objective on the stock. HC Wainwright’s price target points to a potential upside of 37.12% from the stock’s previous close.

Several other brokerages have also recently issued reports on EPRX. Wedbush assumed coverage on Eupraxia Pharmaceuticals in a research note on Thursday, September 24th. They set an “outperform” rating and a $17.00 price objective on the stock. Stifel Nicolaus set a $25.00 price target on Eupraxia Pharmaceuticals in a research note on Thursday, September 24th. Cantor Fitzgerald restated an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research report on Wednesday, July 15th. Weiss Ratings restated a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research report on Friday, July 17th. Finally, Wall Street Zen upgraded Eupraxia Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Eupraxia Pharmaceuticals presently has an average rating of “Moderate Buy” and an average target price of $17.80.

Eupraxia Pharmaceuticals Stock Down 11.8%

NASDAQ:EPRX traded down $1.08 during trading hours on Thursday, hitting $8.02. The stock had a trading volume of 707,123 shares, compared to its average volume of 319,309. The company has a current ratio of 16.00, a quick ratio of 16.00 and a debt-to-equity ratio of 0.02. Eupraxia Pharmaceuticals has a 1-year low of $5.25 and a 1-year high of $9.32. The business has a 50 day simple moving average of $7.31 and a two-hundred day simple moving average of $7.02. The company has a market cap of $521.59 million, a PE ratio of -7.86 and a beta of 1.07.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.02. Analysts predict that Eupraxia Pharmaceuticals will post -0.85 EPS for the current year.

Institutional Trading of Eupraxia Pharmaceuticals

Institutional investors and hedge funds have recently modified their holdings of the company. Affinity Asset Advisors LLC boosted its stake in Eupraxia Pharmaceuticals by 429.7% in 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 acquired a new position in Eupraxia Pharmaceuticals in the second quarter worth $6,851,000. Seven Fleet Capital Management LP acquired a new position in Eupraxia Pharmaceuticals in the first quarter worth $5,137,000. Redmile Group LLC acquired a new position in Eupraxia Pharmaceuticals in the first quarter worth $5,068,000. Finally, Rubric Capital Management LP acquired a new position in Eupraxia Pharmaceuticals in the first quarter worth $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.