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

Eupraxia Pharmaceuticals (NASDAQ:EPRX)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a research note issued to investors on Thursday, MarketBeat Ratings reports. They presently have a $11.00 price objective on the stock. HC Wainwright’s price objective would indicate a potential upside of 51.93% from the stock’s current price.

Several other brokerages have also recently issued reports on EPRX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research report on Wednesday, July 15th. Wedbush initiated 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 on the stock. Oppenheimer initiated coverage on shares of Eupraxia Pharmaceuticals in a research report on Thursday, June 25th. They set an “outperform” rating and a $17.00 price target on the stock. Wall Street Zen upgraded shares of Eupraxia Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 12th. Finally, Stifel Nicolaus set a $25.00 price target on shares of Eupraxia Pharmaceuticals in a research report on Thursday, September 24th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.80.

Eupraxia Pharmaceuticals Trading Down 7.5%

Shares of NASDAQ:EPRX traded down $0.59 during midday trading on Thursday, hitting $7.24. 1,714,355 shares of the stock traded hands, compared to its average volume of 343,034. The stock has a market capitalization of $470.74 million, a PE ratio of -7.10 and a beta of 0.82. The business’s 50 day moving average is $7.34 and its two-hundred day moving average is $7.02. 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 has a one year low of $5.25 and a one year high of $9.32.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last announced its quarterly 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, research analysts forecast that Eupraxia Pharmaceuticals will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Seven Fleet Capital Management LP purchased a new stake in shares of Eupraxia Pharmaceuticals during the first quarter valued at approximately $5,137,000. Redmile Group LLC bought a new position in shares of Eupraxia Pharmaceuticals during the first quarter valued at $5,068,000. Rubric Capital Management LP bought a new position in shares of Eupraxia Pharmaceuticals during the first quarter valued at $5,004,000. DV Trading LLC bought a new position in shares of Eupraxia Pharmaceuticals during the first quarter valued at $1,998,000. Finally, Cibc World Market Inc. bought a new position in shares of Eupraxia Pharmaceuticals during the second quarter valued at $1,539,000.

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.