Eupraxia Pharmaceuticals (NASDAQ:EPRX) Stock Gets Downgrade from Wall Street Zen

Key Points

• Wall Street Zen downgraded Eupraxia Pharmaceuticals from “sell” to “strong sell,” although the broader analyst consensus remains “Moderate Buy” with an average price target of $17.80.
• EPRX shares opened at $6.62, down 2.2%, with a market capitalization of approximately $430 million. The stock has traded between $5.25 and $9.32 over the past year.
• Eupraxia reported a quarterly loss of $0.23 per share, beating estimates by $0.02, while analysts expect a full-year loss of $0.85 per share; the company is developing locally delivered therapies, led by its EP-262 osteoarthritis treatment candidate.

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

Several other research firms also recently issued reports on EPRX. Oppenheimer initiated coverage on Eupraxia Pharmaceuticals in a research note on Thursday, June 25th. They set an "outperform" rating and a $17.00 price target for the company. Stifel Nicolaus set a $25.00 price target on Eupraxia Pharmaceuticals in a research report on Thursday, September 24th. Cantor Fitzgerald restated an "overweight" rating on shares of Eupraxia Pharmaceuticals in a research note on Thursday, October 8th. Weiss Ratings restated a "sell (d-)" rating on shares of Eupraxia Pharmaceuticals in a report on Thursday. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $11.00 price target on shares of Eupraxia Pharmaceuticals in a report on Thursday, October 1st. Two research 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 issued a Sell rating to the company. According to data from MarketBeat, Eupraxia Pharmaceuticals currently has a consensus rating of "Moderate Buy" and an average target price of $17.80.

Eupraxia Pharmaceuticals Trading Down 2.2%

NASDAQ:EPRX opened at $6.62 on Friday. The firm has a market capitalization of $430.43 million, a price-to-earnings ratio of -6.49 and a beta of 0.83. The stock has a fifty day simple moving average of $7.53 and a 200 day simple moving average of $7.02. 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 1-year low of $5.25 and a 1-year high of $9.32.

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

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

A number of large investors have recently modified their holdings of EPRX. Persistent Asset Partners Ltd acquired a new stake in shares of Eupraxia Pharmaceuticals in the 2nd quarter valued at $25,000. BlackRock Inc. acquired a new stake in shares of Eupraxia Pharmaceuticals during the second quarter worth $40,000. AXQ Capital LP increased its holdings in Eupraxia Pharmaceuticals by 34.2% in the second 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. bought a new position in Eupraxia Pharmaceuticals during the 2nd quarter worth approximately $1,539,000. Finally, Bank of America Corp DE bought a new stake in Eupraxia Pharmaceuticals in the second quarter valued at approximately $1,750,000.

About Eupraxia Pharmaceuticals

Eupraxia Pharmaceuticals Inc NASDAQ: EPRX is a Canadian clinical-stage biotechnology company focused on developing locally delivered therapies designed to treat disease at the site of action while potentially reducing systemic exposure and associated side effects. The company is headquartered in Victoria, British Columbia, and is developing candidates for inflammatory and other serious medical conditions.

Eupraxia's lead program, EP-262, is an extended-release formulation of dexamethasone being developed for the treatment of pain and inflammation associated with osteoarthritis of the knee.

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