Eupraxia Pharmaceuticals (NASDAQ:EPRX) Stock Bumped Up to "Sell" by Wall Street Zen

Key Points

• Wall Street Zen upgraded Eupraxia Pharmaceuticals’ rating from “strong sell” to “sell,” while broader analyst sentiment remains more positive, with a consensus “Moderate Buy” rating and an average price target of $17.80.
• EPRX shares opened at $6.83, within a 52-week range of $5.25 to $9.32. The company reported a quarterly loss of $0.23 per share, beating estimates for a $0.25 loss.
• Several hedge funds increased or initiated positions in Eupraxia, including Affinity Asset Advisors, which expanded its holdings by 429.7%. The clinical-stage biotech is developing locally delivered therapies, including its lead osteoarthritis treatment EP-262.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a report released on Saturday, Wall Street Zen reports.

A number of other analysts have also recently weighed in on the stock. 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. Weiss Ratings reissued a "sell (d-)" rating on shares of Eupraxia Pharmaceuticals in a research note on Thursday, October 15th. Stifel Nicolaus set a $25.00 target price on shares of Eupraxia Pharmaceuticals in a research report on Thursday, September 24th. Oppenheimer restated an "outperform" rating on shares of Eupraxia Pharmaceuticals in a research report on Tuesday, October 20th. Finally, HC Wainwright restated a "buy" rating and issued a $11.00 price target on shares of Eupraxia Pharmaceuticals in a research note on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Eupraxia Pharmaceuticals presently has a consensus rating of "Moderate Buy" and an average target price of $17.80.

Eupraxia Pharmaceuticals Price Performance

Shares of NASDAQ EPRX opened at $6.83 on Friday. Eupraxia Pharmaceuticals has a 1-year low of $5.25 and a 1-year high of $9.32. 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's fifty day moving average price is $7.59 and its two-hundred day moving average price is $7.32.

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

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

Several hedge funds have recently modified their holdings of EPRX. Affinity Asset Advisors LLC grew its holdings in Eupraxia Pharmaceuticals by 429.7% during the first quarter. Affinity Asset Advisors LLC now owns 1,589,005 shares of the company's stock worth $11,504,000 after acquiring an additional 1,289,005 shares during the period. Jupiter Topco LLC acquired a new stake in Eupraxia Pharmaceuticals in the 2nd quarter valued at about $6,851,000. Seven Fleet Capital Management LP acquired a new stake in Eupraxia Pharmaceuticals in the 1st quarter valued at about $5,137,000. Redmile Group LLC acquired a new stake in Eupraxia Pharmaceuticals in the 1st quarter valued at about $5,068,000. Finally, Rubric Capital Management LP bought a new position in shares of Eupraxia Pharmaceuticals during the 1st quarter valued at about $5,004,000.

Eupraxia Pharmaceuticals Company Profile

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.

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