Eupraxia Pharmaceuticals (NASDAQ:EPRX) Price Target Raised to $16.00

Eupraxia Pharmaceuticals (NASDAQ:EPRX) had its price target raised by stock analysts at HC Wainwright from $11.00 to $16.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. HC Wainwright‘s target price would suggest a potential upside of 109.70% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on EPRX. Stifel Nicolaus set a $25.00 target price on Eupraxia Pharmaceuticals in a research note on Thursday, September 24th. Wedbush assumed 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. Wall Street Zen cut shares of Eupraxia Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Sunday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research report on Thursday, October 15th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research note on Thursday, October 8th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Eupraxia Pharmaceuticals Stock Performance

Shares of EPRX stock opened at $7.63 on Wednesday. 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 has a 50 day moving average of $7.58 and a two-hundred day moving average of $7.25. Eupraxia Pharmaceuticals has a 52 week low of $5.63 and a 52 week high of $9.32. The company has a market cap of $513.04 million, a P/E ratio of -7.48 and a beta of 1.04.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last announced its quarterly earnings results on Tuesday, November 10th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.26) by $0.03. As a group, analysts anticipate that Eupraxia Pharmaceuticals will post -0.90 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in EPRX. Seven Fleet Capital Management LP acquired a new position in shares of Eupraxia Pharmaceuticals during the first quarter valued at $5,137,000. Redmile Group LLC bought a new stake in shares of Eupraxia Pharmaceuticals during the first quarter valued at about $5,068,000. Rubric Capital Management LP bought a new stake in shares of Eupraxia Pharmaceuticals during the first quarter valued at about $5,004,000. Cibc World Market Inc. acquired a new stake in Eupraxia Pharmaceuticals in the second quarter worth about $1,539,000. Finally, Bank of America Corp DE acquired a new stake in Eupraxia Pharmaceuticals in the second quarter worth about $1,750,000.

Eupraxia Pharmaceuticals Company Profile

Eupraxia Pharmaceuticals is a clinical-stage biotechnology company developing treatments that use its DiffuSphere drug-delivery technology. The polymer-based platform is designed to release medicines over an extended period and deliver them locally to targeted tissues. The company’s lead candidate, EP-104IAR, is an extended-release formulation of fluticasone propionate being developed as an injection into the knee for people with osteoarthritis. Eupraxia is also exploring applications of its delivery platform in other conditions, including eosinophilic esophagitis.