Eupraxia Pharmaceuticals (NASDAQ:EPRX) Given New $16.00 Price Target at HC Wainwright

Key Points

• HC Wainwright raised its price target on Eupraxia Pharmaceuticals to $16 from $11 and maintained a Buy rating, implying 109.7% upside from the prior closing price.
• Analyst views are mixed but lean positive: MarketBeat reports a consensus “Moderate Buy” rating and an average price target of $18, with ratings ranging from Strong Buy to Sell.
• Eupraxia reported a quarterly loss of $0.23 per share, beating analysts’ estimated loss of $0.26 per share.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) had its price objective upped by stock analysts at HC Wainwright from $11.00 to $16.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the stock. HC Wainwright's price objective would indicate a potential upside of 109.70% from the stock's previous close.

Several other equities research analysts also recently weighed in on the company. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eupraxia Pharmaceuticals in a research report on Thursday, October 15th. Oppenheimer reiterated an "outperform" rating on shares of Eupraxia Pharmaceuticals in a research note on Tuesday, October 20th. Cantor Fitzgerald reissued an "overweight" rating on shares of Eupraxia Pharmaceuticals in a report on Thursday, October 8th. Stifel Nicolaus set a $25.00 price objective on Eupraxia Pharmaceuticals in a research note on Thursday, September 24th. Finally, Royal Bank Of Canada assumed coverage on Eupraxia Pharmaceuticals in a research note on Monday. They set an "outperform" rating and a $14.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Eupraxia Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $18.00.

Eupraxia Pharmaceuticals Trading Up 2.8%

Shares of EPRX stock opened at $7.63 on Wednesday. The company has a market capitalization of $513.04 million, a price-to-earnings ratio of -7.48 and a beta of 1.04. 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 $7.58 and a 200 day moving average price of $7.25. Eupraxia Pharmaceuticals has a twelve month low of $5.63 and a twelve month high of $9.32.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last issued its quarterly earnings results on Tuesday, November 10th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.26) by $0.03. Research analysts forecast that Eupraxia Pharmaceuticals will post -0.90 earnings per share for the current fiscal year.

Institutional Trading of Eupraxia Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of EPRX. Affinity Asset Advisors LLC lifted its holdings in Eupraxia Pharmaceuticals by 429.7% during the 1st quarter. Affinity Asset Advisors LLC now owns 1,589,005 shares of the company's stock worth $11,504,000 after buying an additional 1,289,005 shares during the last quarter. Jupiter Topco LLC bought a new position in Eupraxia Pharmaceuticals during the second quarter worth $6,851,000. Seven Fleet Capital Management LP acquired a new position in Eupraxia Pharmaceuticals in the first quarter worth $5,137,000. Redmile Group LLC acquired a new position in Eupraxia Pharmaceuticals in the first quarter worth $5,068,000. Finally, Rubric Capital Management LP bought a new stake in Eupraxia Pharmaceuticals during the first quarter valued at $5,004,000.

About Eupraxia Pharmaceuticals

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.

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