Eupraxia Pharmaceuticals (NASDAQ:EPRX) Stock Moved Down to Strong Sell by Wall Street Zen

Key Points

• Wall Street Zen downgraded Eupraxia Pharmaceuticals (NASDAQ: EPRX) from “sell” to “strong sell.”
• Analyst views remain mixed: MarketBeat reports an overall “moderate buy” rating and an average price target of $17.80, while one analyst rates the stock a strong buy and one a sell.
• Eupraxia reported a quarterly loss of $0.23 per share, narrower than the $0.25 loss analysts expected. The clinical-stage biotech’s lead program, EP-262, is being developed as a treatment for knee osteoarthritis.

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

EPRX has been the subject of a number of other research reports. Cantor Fitzgerald reiterated an "overweight" rating on shares of Eupraxia Pharmaceuticals in a report on Thursday, October 8th. Wedbush initiated coverage on Eupraxia Pharmaceuticals in a report on Thursday, September 24th. They issued an "outperform" rating and a $17.00 price target on the stock. Stifel Nicolaus set a $25.00 price target on Eupraxia Pharmaceuticals in a report on Thursday, September 24th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eupraxia Pharmaceuticals in a research report on Thursday, October 15th. Finally, Oppenheimer reiterated an "outperform" rating on shares of Eupraxia Pharmaceuticals in a report on Tuesday, October 20th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.80.

Eupraxia Pharmaceuticals Trading Up 4.4%

Shares of NASDAQ EPRX opened at $6.89 on Friday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 16.00 and a current ratio of 16.00. The stock has a market cap of $463.28 million, a price-to-earnings ratio of -6.75 and a beta of 1.04. The business has a 50 day simple moving average of $7.55 and a 200 day simple moving average of $7.27. Eupraxia Pharmaceuticals has a 52 week low of $5.29 and a 52 week high of $9.32.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.02. On average, research analysts predict that Eupraxia Pharmaceuticals will post -0.90 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in EPRX. China Universal Asset Management Co. Ltd. grew its position in Eupraxia Pharmaceuticals by 28.0% in the third quarter. China Universal Asset Management Co. Ltd. now owns 16,000 shares of the company's stock valued at $133,000 after purchasing an additional 3,500 shares in the last quarter. Persistent Asset Partners Ltd acquired a new stake in Eupraxia Pharmaceuticals in the 2nd quarter valued at $25,000. AXQ Capital LP increased its stake 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 buying an additional 5,390 shares during the last quarter. BlackRock Inc. bought a new stake in Eupraxia Pharmaceuticals during the 2nd quarter worth about $40,000. Finally, Bank of America Corp DE lifted its position in Eupraxia Pharmaceuticals by 5.9% during the 1st quarter. Bank of America Corp DE now owns 268,221 shares of the company's stock worth $1,942,000 after buying an additional 14,900 shares in the last quarter.

About Eupraxia Pharmaceuticals

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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