Eupraxia Pharmaceuticals (NASDAQ:EPRX) Stock Keeps Buy Rating at HC Wainwright

Eupraxia Pharmaceuticals (NASDAQ:EPRX)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research note issued on Thursday, Benzinga reports. They currently have a $11.00 price objective on the stock. HC Wainwright’s price objective indicates a potential upside of 20.88% from the company’s previous close.

Several other brokerages also recently commented on EPRX. Wedbush began coverage on shares of Eupraxia Pharmaceuticals in a research report on Thursday, September 24th. They set an “outperform” rating and a $17.00 price objective on the stock. Stifel Nicolaus set a $25.00 target price on shares of Eupraxia Pharmaceuticals in a report on Thursday, September 24th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research note on Friday, July 17th. Oppenheimer started coverage on Eupraxia Pharmaceuticals in a report on Thursday, June 25th. They set an “outperform” rating and a $17.00 price target on the stock. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research report on Wednesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.80.

Eupraxia Pharmaceuticals Trading Up 9.5%

Eupraxia Pharmaceuticals stock opened at $9.10 on Thursday. Eupraxia Pharmaceuticals has a 12-month low of $5.25 and a 12-month high of $9.32. The firm has a market capitalization of $591.68 million, a price-to-earnings ratio of -8.92 and a beta of 1.07. The firm has a 50 day moving average of $7.31 and a 200 day moving average of $7.02. 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 (NASDAQ:EPRX) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.02. As a group, research analysts predict that Eupraxia Pharmaceuticals will post -0.85 earnings per share for the current year.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Persistent Asset Partners Ltd bought a new position in shares of Eupraxia Pharmaceuticals during the second quarter worth $25,000. BlackRock Inc. bought a new stake in Eupraxia Pharmaceuticals in the 2nd quarter valued at $40,000. AXQ Capital LP lifted its stake in Eupraxia Pharmaceuticals by 34.2% in the 2nd quarter. AXQ Capital LP now owns 21,150 shares of the company’s stock worth $140,000 after purchasing an additional 5,390 shares in the last quarter. Cibc World Market Inc. purchased a new stake in Eupraxia Pharmaceuticals in the 2nd quarter worth $1,539,000. Finally, Royal Bank of Canada boosted its holdings in shares of Eupraxia Pharmaceuticals by 33.2% during the 1st quarter. Royal Bank of Canada now owns 261,376 shares of the company’s stock valued at $1,893,000 after purchasing an additional 65,099 shares during the last quarter.

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.