Eupraxia Pharmaceuticals (NASDAQ:EPRX) Coverage Initiated by Analysts at Wedbush

Analysts at Wedbush began coverage on shares of Eupraxia Pharmaceuticals (NASDAQ:EPRX) in a research note issued to investors on Thursday, Benzinga reports. The firm set an “outperform” rating and a $17.00 price target on the stock. Wedbush’s price objective would suggest a potential upside of 108.85% from the company’s current price.

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

Eupraxia Pharmaceuticals Price Performance

NASDAQ EPRX opened at $8.14 on Thursday. The company has a market cap of $529.25 million, a P/E ratio of -7.98 and a beta of 1.07. Eupraxia Pharmaceuticals has a 1 year low of $5.16 and a 1 year high of $9.32. The company has a current ratio of 16.00, a quick ratio of 16.00 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $7.11 and a 200 day simple moving average of $7.00.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.02. On average, sell-side analysts predict that Eupraxia Pharmaceuticals will post -0.85 EPS for the current year.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in the stock. Persistent Asset Partners Ltd bought a new position in Eupraxia Pharmaceuticals during the 2nd quarter worth about $25,000. BlackRock Inc. bought a new stake in shares of Eupraxia Pharmaceuticals in the second quarter valued at about $40,000. AXQ Capital LP boosted its position in shares of 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 buying an additional 5,390 shares during the period. Cibc World Market Inc. acquired a new position in shares of Eupraxia Pharmaceuticals during the second quarter worth about $1,539,000. Finally, Royal Bank of Canada grew 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 buying an additional 65,099 shares in the last quarter.

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.