Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) has been assigned an average recommendation of “Moderate Buy” from the ten research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $17.80.

EPRX has been the topic of several recent research reports. HC Wainwright reissued a “buy” rating and set a $11.00 price target on shares of Eupraxia Pharmaceuticals in a research report on Thursday, October 1st. Stifel Nicolaus set a $25.00 price objective on shares of Eupraxia Pharmaceuticals in a report on Thursday, September 24th. Weiss Ratings restated a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research report on Thursday, October 15th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research note on Thursday, October 8th. 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.

Eupraxia Pharmaceuticals Stock Performance

Shares of Eupraxia Pharmaceuticals stock opened at $6.87 on Friday. Eupraxia Pharmaceuticals has a one year low of $5.25 and a one 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 business’s 50 day moving average price is $7.60 and its 200 day moving average price is $7.03.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last issued its 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 fiscal year.

Institutional Trading of Eupraxia Pharmaceuticals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Affinity Asset Advisors LLC grew its position in Eupraxia Pharmaceuticals by 429.7% in the first quarter. Affinity Asset Advisors LLC now owns 1,589,005 shares of the company’s stock worth $11,504,000 after acquiring an additional 1,289,005 shares during the period. Jupiter Topco LLC acquired a new stake in Eupraxia Pharmaceuticals during the second quarter worth $6,851,000. Seven Fleet Capital Management LP purchased a new stake in Eupraxia Pharmaceuticals in the first quarter valued at $5,137,000. Redmile Group LLC acquired a new position in Eupraxia Pharmaceuticals in the first quarter valued at about $5,068,000. Finally, Rubric Capital Management LP acquired a new position in shares of Eupraxia Pharmaceuticals in the 1st quarter worth approximately $5,004,000.

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.