Eupraxia Pharmaceuticals (NASDAQ:EPRX) Stock Rating Raised to “Sell” at Wall Street Zen

Wall Street Zen upgraded shares of Eupraxia Pharmaceuticals (NASDAQ:EPRX) from a strong sell rating to a sell rating in a research report released on Saturday,Wall Street Zen reports.

Several other research firms have also recently commented on EPRX. Cantor Fitzgerald restated an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research note on Thursday, October 8th. Wedbush initiated coverage on shares of Eupraxia Pharmaceuticals in a report on Thursday, September 24th. They issued 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 report on Thursday, October 15th. HC Wainwright reissued a “buy” rating and issued a $11.00 price objective on shares of Eupraxia Pharmaceuticals in a research report on Thursday, October 1st. Finally, Oppenheimer restated an “outperform” rating on shares of Eupraxia Pharmaceuticals in a report on Tuesday, October 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Eupraxia Pharmaceuticals has a consensus rating of “Moderate Buy” and a consensus target price of $17.80.

Eupraxia Pharmaceuticals Price Performance

Shares of NASDAQ EPRX opened at $6.83 on Friday. The firm has a market cap of $444.09 million, a PE ratio of -6.70 and a beta of 0.83. The company has a current ratio of 16.00, a quick ratio of 16.00 and a debt-to-equity ratio of 0.02. Eupraxia Pharmaceuticals has a 1-year low of $5.25 and a 1-year high of $9.32. The company has a fifty day moving average price of $7.59 and a 200 day moving average price of $7.32.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last released its earnings results on Tuesday, August 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. Research analysts predict that Eupraxia Pharmaceuticals will post -0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. Affinity Asset Advisors LLC lifted its position in shares of Eupraxia Pharmaceuticals by 429.7% in the first quarter. Affinity Asset Advisors LLC now owns 1,589,005 shares of the company’s stock valued at $11,504,000 after buying an additional 1,289,005 shares during the last quarter. Jupiter Topco LLC bought a new position in shares of Eupraxia Pharmaceuticals during the 2nd quarter worth approximately $6,851,000. Seven Fleet Capital Management LP bought a new position in shares of Eupraxia Pharmaceuticals during the 1st quarter worth approximately $5,137,000. Redmile Group LLC acquired a new position in shares of Eupraxia Pharmaceuticals during the 1st quarter worth approximately $5,068,000. Finally, Rubric Capital Management LP acquired a new position in shares of Eupraxia Pharmaceuticals during the 1st quarter worth approximately $5,004,000.

About Eupraxia Pharmaceuticals

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.