Eupraxia Pharmaceuticals’ (EPRX) Buy Rating Reaffirmed at HC Wainwright

Eupraxia Pharmaceuticals (NASDAQ:EPRX)‘s stock had its “buy” rating reaffirmed by equities researchers at HC Wainwright in a report issued on Thursday, Marketbeat.com reports. They currently have a $11.00 price target on the stock. HC Wainwright’s target price would indicate a potential upside of 38.35% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Oppenheimer started coverage on Eupraxia Pharmaceuticals in a research report on Thursday, June 25th. They set an “outperform” rating and a $17.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research note on Friday, July 17th. 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 for the company. Wall Street Zen upgraded shares of Eupraxia Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, September 12th. Finally, Stifel Nicolaus set a $25.00 price target on shares of Eupraxia Pharmaceuticals in a research note on Thursday, September 24th. Two investment 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $17.80.

Eupraxia Pharmaceuticals Trading Up 2.7%

EPRX traded up $0.21 on Thursday, hitting $7.95. The company had a trading volume of 21,118 shares, compared to its average volume of 348,757. The company has a market cap of $516.97 million, a PE ratio of -7.85 and a beta of 0.83. Eupraxia Pharmaceuticals has a 12-month low of $5.25 and a 12-month high of $9.32. The company has a quick ratio of 16.00, a current ratio of 16.00 and a debt-to-equity ratio of 0.02. The business’s fifty day simple moving average is $7.40 and its 200 day simple moving average is $7.02.

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. Equities research analysts expect that Eupraxia Pharmaceuticals will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. AXQ Capital LP raised its position in shares of Eupraxia Pharmaceuticals by 34.2% during the 2nd quarter. AXQ Capital LP now owns 21,150 shares of the company’s stock worth $140,000 after buying an additional 5,390 shares in the last quarter. Seven Fleet Capital Management LP purchased a new position in shares of Eupraxia Pharmaceuticals in the second quarter worth approximately $4,037,289. Bank of America Corp DE acquired a new position in Eupraxia Pharmaceuticals in the 2nd quarter valued at approximately $1,750,000. Jupiter Topco LLC acquired a new position in Eupraxia Pharmaceuticals in the 2nd quarter valued at approximately $6,851,000. Finally, Cibc World Market Inc. bought a new stake in Eupraxia Pharmaceuticals in the second quarter worth approximately $1,539,000.

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.