Eupraxia Pharmaceuticals’ (EPRX) Buy Rating Reiterated at HC Wainwright

Eupraxia Pharmaceuticals (NASDAQ:EPRX)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a report issued on Thursday, MarketBeat Ratings reports. They presently have a $11.00 target price on the stock. HC Wainwright’s price objective would indicate a potential upside of 52.25% from the company’s previous close.

A number of other research firms also recently issued reports on EPRX. Wedbush assumed coverage on shares of Eupraxia Pharmaceuticals in a research report on Thursday, September 24th. They set an “outperform” rating and a $17.00 price target for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research report on Friday, July 17th. Oppenheimer began coverage on Eupraxia Pharmaceuticals in a research report on Thursday, June 25th. They set an “outperform” rating and a $17.00 price target for the company. Wall Street Zen upgraded Eupraxia Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, September 12th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Eupraxia Pharmaceuticals in a report on Wednesday, July 15th. Two 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. According to data from MarketBeat, Eupraxia Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $17.80.

Eupraxia Pharmaceuticals Trading Down 7.7%

Shares of NASDAQ:EPRX traded down $0.61 during trading on Thursday, reaching $7.23. The stock had a trading volume of 1,246,939 shares, compared to its average volume of 339,536. Eupraxia Pharmaceuticals has a fifty-two week low of $5.25 and a fifty-two week high of $9.32. The business has a fifty day moving average price of $7.34 and a 200-day moving average price of $7.02. The stock has a market cap of $469.77 million, a P/E ratio of -7.08 and a beta of 0.82. The company has a quick ratio of 16.00, a current ratio of 16.00 and a debt-to-equity ratio of 0.02.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.23) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. As a group, analysts anticipate that Eupraxia Pharmaceuticals will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

Large investors have recently modified their holdings of the stock. Persistent Asset Partners Ltd bought a new position in Eupraxia Pharmaceuticals during the 2nd quarter worth approximately $25,000. AXQ Capital LP lifted its stake in Eupraxia Pharmaceuticals by 34.2% during the second quarter. AXQ Capital LP now owns 21,150 shares of the company’s stock worth $140,000 after purchasing an additional 5,390 shares during the last quarter. BlackRock Inc. acquired a new position in Eupraxia Pharmaceuticals in the second quarter worth $40,000. Bank of America Corp DE increased its stake in Eupraxia Pharmaceuticals by 5.9% during the first quarter. Bank of America Corp DE now owns 268,221 shares of the company’s stock valued at $1,942,000 after purchasing an additional 14,900 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Eupraxia Pharmaceuticals by 33.2% during the first quarter. Royal Bank of Canada now owns 261,376 shares of the company’s stock worth $1,893,000 after purchasing an additional 65,099 shares during the period.

About Eupraxia Pharmaceuticals

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.