Eupraxia Pharmaceuticals (NASDAQ:EPRX) Stock Rated Outperform in New Coverage at Wedbush

Wedbush initiated coverage on shares of Eupraxia Pharmaceuticals (NASDAQ:EPRX) in a report released on Thursday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $17.00 price target on the stock.

A number of other equities research analysts have also weighed in on EPRX. Stifel Nicolaus set a $25.00 price objective on Eupraxia Pharmaceuticals in a report on Thursday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research report on Friday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research note on Wednesday, July 15th. Wall Street Zen raised shares of Eupraxia Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 12th. Finally, Oppenheimer started coverage on shares of Eupraxia Pharmaceuticals in a research note on Thursday, June 25th. They issued an “outperform” rating and a $17.00 price target for the company. Two 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.80.

Eupraxia Pharmaceuticals Stock Down 1.8%

Shares of Eupraxia Pharmaceuticals stock opened at $8.01 on Thursday. The business has a 50-day moving average of $7.18 and a 200-day moving average of $7.01. The company has a debt-to-equity ratio of 0.02, a current ratio of 16.00 and a quick ratio of 16.00. The company has a market capitalization of $520.81 million, a PE ratio of -7.85 and a beta of 1.07. Eupraxia Pharmaceuticals has a 1-year low of $5.25 and a 1-year high of $9.32.

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

Institutional Trading of Eupraxia Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the company. Affinity Asset Advisors LLC raised its stake in Eupraxia Pharmaceuticals by 429.7% during the first 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 shares of Eupraxia Pharmaceuticals in the 2nd quarter worth approximately $6,851,000. Seven Fleet Capital Management LP acquired a new position in shares of Eupraxia Pharmaceuticals in the 1st quarter worth approximately $5,137,000. Redmile Group LLC bought a new stake in shares of Eupraxia Pharmaceuticals in the 1st quarter valued at approximately $5,068,000. Finally, Rubric Capital Management LP bought a new stake in shares of Eupraxia Pharmaceuticals in the 1st quarter valued at approximately $5,004,000.

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.