Eupraxia Pharmaceuticals (NASDAQ:EPRX) Coverage Initiated at Wedbush

Key Points

• Wedbush initiated coverage of Eupraxia Pharmaceuticals with an “outperform” rating and a $17 price target, implying approximately 108.85% upside from the reported share price.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $17.80; ratings include two Strong Buys, six Buys, one Hold, and one Sell.
• Eupraxia reported quarterly EPS of -$0.23, beating estimates of -$0.25, while institutional investors including Seven Fleet Capital, Bank of America, and Jupiter Topco established or increased positions during the second quarter.

Wedbush started coverage on shares of Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) in a note issued to investors on Thursday, Benzinga reports. The firm set an "outperform" rating and a $17.00 price target on the stock. Wedbush's target price indicates a potential upside of 108.85% from the stock's current price.

Other research analysts have also issued reports about the company. Oppenheimer started coverage on Eupraxia Pharmaceuticals in a report on Thursday, June 25th. They set an "outperform" rating and a $17.00 price target on the stock. Wall Street Zen raised shares of Eupraxia Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research note on Saturday, September 12th. Stifel Nicolaus set a $25.00 price objective on shares of Eupraxia Pharmaceuticals in a research note on Thursday. Weiss Ratings reissued a "sell (d-)" rating on shares of Eupraxia Pharmaceuticals in a report on Friday, July 17th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Eupraxia Pharmaceuticals in a research note on Wednesday, July 15th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.80.

Eupraxia Pharmaceuticals Stock Down 5.1%

EPRX stock opened at $8.14 on Thursday. The company has a quick ratio of 16.00, a current ratio of 16.00 and a debt-to-equity ratio of 0.02. Eupraxia Pharmaceuticals has a fifty-two week low of $5.16 and a fifty-two week high of $9.32. The firm's 50-day simple moving average is $7.11 and its 200 day simple moving average is $7.00. The stock has a market cap of $529.25 million, a PE ratio of -7.98 and a beta of 1.07.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last announced its quarterly earnings results 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, sell-side analysts predict that Eupraxia Pharmaceuticals will post -0.85 EPS for the current year.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. AXQ Capital LP boosted its holdings in shares of Eupraxia Pharmaceuticals by 34.2% in the second quarter. AXQ Capital LP now owns 21,150 shares of the company's stock worth $140,000 after buying an additional 5,390 shares during the period. Seven Fleet Capital Management LP acquired a new stake in Eupraxia Pharmaceuticals during the 2nd quarter worth about $4,037,289. Bank of America Corp DE acquired a new position in shares of Eupraxia Pharmaceuticals in the 2nd quarter valued at about $1,750,000. Jupiter Topco LLC purchased a new position in Eupraxia Pharmaceuticals during the second quarter valued at approximately $6,851,000. Finally, Cibc World Market Inc. purchased a new stake in Eupraxia Pharmaceuticals in the 2nd quarter worth 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.

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