Eupraxia Pharmaceuticals (NASDAQ:EPRX) Stock Price Breaks Above 200 Day Moving Average – What’s Next?

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) shares passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $7.33 and traded as high as $7.42. Eupraxia Pharmaceuticals shares last traded at $7.38, with a volume of 419,985 shares traded.

Analysts Set New Price Targets

A number of brokerages recently issued reports on EPRX. Cantor Fitzgerald reiterated an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research note on Thursday, October 8th. HC Wainwright restated a “buy” rating and set a $11.00 price objective on shares of Eupraxia Pharmaceuticals in a research note on Thursday, October 1st. 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 Thursday, October 15th. Finally, Wall Street Zen downgraded shares of Eupraxia Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Saturday, October 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Eupraxia Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus target price of $17.80.

Eupraxia Pharmaceuticals Price Performance

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 company has a 50 day moving average price of $7.59 and a two-hundred day moving average price of $7.32.

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

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of EPRX. Seven Fleet Capital Management LP bought a new position in Eupraxia Pharmaceuticals during the first quarter valued at approximately $5,137,000. Redmile Group LLC bought a new stake in Eupraxia Pharmaceuticals in the 1st quarter worth approximately $5,068,000. Rubric Capital Management LP purchased a new stake in Eupraxia Pharmaceuticals during the 1st quarter valued at $5,004,000. Cibc World Market Inc. purchased a new stake in Eupraxia Pharmaceuticals during the 2nd quarter valued at $1,539,000. Finally, DV Trading LLC purchased a new stake in Eupraxia Pharmaceuticals during the 1st quarter valued at $1,998,000.

Eupraxia Pharmaceuticals Company Profile

Eupraxia Pharmaceuticals Inc is a Canadian clinical-stage biopharmaceutical company focused on developing locally delivered therapies for chronic diseases. The company uses its proprietary DiffuSphere technology to formulate drug products designed to provide controlled, sustained release at targeted sites in the body, with the goal of improving treatment effectiveness and tolerability.

Eupraxia’s lead development program, EP-262, is an intra-articular therapy being developed for osteoarthritis of the knee.