HC Wainwright Reaffirms Buy Rating for Eupraxia Pharmaceuticals (NASDAQ:EPRX)

Key Points

• HC Wainwright reaffirmed a Buy rating on Eupraxia Pharmaceuticals with an $11 price target, implying 20.88% upside from the stock’s $9.10 opening price.
• Analyst sentiment is generally positive but mixed: EPRX has an overall “Moderate Buy” rating and an average price target of $17.80, though one analyst rates it a Sell.
• Eupraxia reported quarterly EPS of -$0.23, beating the consensus estimate of -$0.25; institutional investors including Royal Bank of Canada and AXQ Capital also increased their holdings.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at HC Wainwright in a research note issued to investors on Thursday, Marketbeat Ratings reports. They presently have a $11.00 price objective on the stock. HC Wainwright's target price indicates a potential upside of 20.88% from the company's current price.

EPRX has been the subject of several other research reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Eupraxia Pharmaceuticals in a research note on Wednesday, July 15th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Eupraxia Pharmaceuticals in a research report on Friday, July 17th. Wall Street Zen upgraded 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 target price on shares of Eupraxia Pharmaceuticals in a research note on Thursday, September 24th. Finally, Oppenheimer started coverage on Eupraxia Pharmaceuticals in a research report on Thursday, June 25th. They set an "outperform" rating and a $17.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.80.

Eupraxia Pharmaceuticals Price Performance

EPRX opened at $9.10 on Thursday. 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 company has a market capitalization of $591.68 million, a price-to-earnings ratio of -8.92 and a beta of 1.07. The business's fifty day simple moving average is $7.31 and its 200-day simple moving average is $7.02. Eupraxia Pharmaceuticals has a 12-month low of $5.25 and a 12-month high of $9.32.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.02. On average, equities research analysts anticipate that Eupraxia Pharmaceuticals will post -0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Persistent Asset Partners Ltd purchased a new stake in shares of Eupraxia Pharmaceuticals in the 2nd quarter valued at approximately $25,000. BlackRock Inc. purchased a new position in shares of Eupraxia Pharmaceuticals during the 2nd quarter worth approximately $40,000. AXQ Capital LP increased its holdings in Eupraxia Pharmaceuticals by 34.2% in the 2nd quarter. AXQ Capital LP now owns 21,150 shares of the company's stock valued at $140,000 after purchasing an additional 5,390 shares during the last quarter. Cibc World Market Inc. purchased a new stake in Eupraxia Pharmaceuticals in the second quarter valued at approximately $1,539,000. Finally, Royal Bank of Canada lifted its stake in Eupraxia Pharmaceuticals by 33.2% during the first quarter. Royal Bank of Canada now owns 261,376 shares of the company's stock worth $1,893,000 after purchasing an additional 65,099 shares in the last quarter.

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.