Eupraxia Pharmaceuticals (NASDAQ:EPRX) Shares Gap Down – Time to Sell?

Shares of Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) gapped down before the market opened on Tuesday . The stock had previously closed at $8.42, but opened at $8.05. Eupraxia Pharmaceuticals shares last traded at $8.01, with a volume of 16,943 shares.

Wall Street Analyst Weigh In

A number of research firms have commented on EPRX. Wall Street Zen raised Eupraxia Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, September 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a report on Friday, July 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research note on Wednesday, July 15th. Oppenheimer started coverage on shares of Eupraxia Pharmaceuticals in a report on Thursday, June 25th. They set an “outperform” rating and a $17.00 price objective on the stock. Finally, Stifel Nicolaus initiated coverage on shares of Eupraxia Pharmaceuticals in a research report on Thursday, May 21st. They set a “buy” rating and a $25.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $18.00.

Eupraxia Pharmaceuticals Stock Down 0.2%

The firm has a market cap of $526.01 million, a price-to-earnings ratio of -7.93 and a beta of 1.07. 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 firm has a 50 day moving average price of $6.92 and a 200-day moving average price of $6.99.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.02. On average, equities analysts forecast that Eupraxia Pharmaceuticals Inc. will post -0.85 EPS for the current year.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

A number of institutional investors have recently made changes to their positions in EPRX. AXQ Capital LP boosted its stake 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 purchasing an additional 5,390 shares during the last quarter. Seven Fleet Capital Management LP acquired a new position in shares of Eupraxia Pharmaceuticals in the second quarter valued at approximately $4,037,289. Bank of America Corp DE acquired a new position in shares of Eupraxia Pharmaceuticals in the second quarter valued at approximately $1,750,000. Jupiter Topco LLC purchased a new position in shares of Eupraxia Pharmaceuticals during the second quarter valued at approximately $6,851,000. Finally, Cibc World Market Inc. purchased a new position in shares of Eupraxia Pharmaceuticals during the second quarter valued at approximately $1,539,000.

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.