Eupraxia Pharmaceuticals (NASDAQ:EPRX) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of Eupraxia Pharmaceuticals (NASDAQ:EPRX) from a sell rating to a strong sell rating in a report released on Saturday morning,Wall Street Zen reports.

Several other research analysts have also recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of Eupraxia Pharmaceuticals in a research report on Thursday, October 1st. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research report on Thursday. Wedbush started coverage on Eupraxia Pharmaceuticals in a research report on Thursday, September 24th. They set an “outperform” rating and a $17.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research note on Thursday, October 8th. Finally, Oppenheimer assumed coverage on Eupraxia Pharmaceuticals in a research note on Thursday, June 25th. They set an “outperform” rating and a $17.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.80.

Eupraxia Pharmaceuticals Stock Performance

Shares of NASDAQ EPRX opened at $6.95 on Friday. Eupraxia Pharmaceuticals has a twelve month low of $5.25 and a twelve month high of $9.32. The stock’s 50 day moving average price is $7.54 and its 200-day moving average price is $7.03. The company has a debt-to-equity ratio of 0.02, a quick ratio of 16.00 and a current ratio of 16.00.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last released its earnings results 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. As a group, equities analysts predict that Eupraxia Pharmaceuticals will post -0.85 EPS for the current year.

Institutional Trading of Eupraxia Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of EPRX. Affinity Asset Advisors LLC lifted its stake 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 bought a new position in Eupraxia Pharmaceuticals in the 2nd quarter worth approximately $6,851,000. Seven Fleet Capital Management LP bought a new position in Eupraxia Pharmaceuticals in the 1st quarter worth approximately $5,137,000. Redmile Group LLC bought a new position in Eupraxia Pharmaceuticals in the 1st quarter worth approximately $5,068,000. Finally, Rubric Capital Management LP purchased a new position in Eupraxia Pharmaceuticals in the 1st quarter valued at approximately $5,004,000.

About Eupraxia Pharmaceuticals

Eupraxia Pharmaceuticals Inc (NASDAQ:EPRX) is a Canadian clinical-stage biotechnology company focused on developing locally delivered therapies designed to treat disease at the site of action while potentially reducing systemic exposure and associated side effects. The company is headquartered in Victoria, British Columbia, and is developing candidates for inflammatory and other serious medical conditions.

Eupraxia’s lead program, EP-262, is an extended-release formulation of dexamethasone being developed for the treatment of pain and inflammation associated with osteoarthritis of the knee.