700,000 Shares in Eupraxia Pharmaceuticals Inc. $EPRX Acquired by Redmile Group LLC

Key Points

• Redmile Group acquired 700,000 shares of Eupraxia Pharmaceuticals in the first quarter, worth approximately $5.1 million and representing a 1.16% stake. Several other institutional investors also initiated or expanded positions.
• EPRX shares opened at $6.10, down 1.1%, and remain below their 50-day and 200-day moving averages. The company reported a quarterly loss of $0.23 per share, narrowly missing the $0.22 consensus estimate.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an $18.00 average price target versus the reported $6.10 share price, although ratings range from “Strong Buy” to “Sell.”

Redmile Group LLC purchased a new position in Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 700,000 shares of the company's stock, valued at approximately $5,068,000. Redmile Group LLC owned 1.16% of Eupraxia Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vivo Capital LLC purchased a new position in shares of Eupraxia Pharmaceuticals in the third quarter worth $7,965,000. Affinity Asset Advisors LLC grew its stake 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 valued at $11,504,000 after acquiring an additional 1,289,005 shares in the last quarter. Rubric Capital Management LP purchased a new position in Eupraxia Pharmaceuticals during the first quarter valued at $5,004,000. Ikarian Capital LLC bought a new stake in Eupraxia Pharmaceuticals in the 4th quarter valued at $4,606,000. Finally, Squadron Capital Management LLC bought a new stake in Eupraxia Pharmaceuticals in the 4th quarter valued at $3,775,000.

Eupraxia Pharmaceuticals Stock Down 1.1%

Shares of EPRX opened at $6.10 on Wednesday. The company has a quick ratio of 19.31, a current ratio of 19.31 and a debt-to-equity ratio of 0.02. The business has a fifty day moving average of $6.50 and a 200 day moving average of $7.33. The company has a market cap of $396.62 million, a PE ratio of -5.81 and a beta of 1.05. Eupraxia Pharmaceuticals Inc. has a 52-week low of $5.04 and a 52-week high of $9.32.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The company reported ($0.23) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.01). On average, sell-side analysts expect that Eupraxia Pharmaceuticals Inc. will post -0.88 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Stifel Nicolaus assumed coverage on shares of Eupraxia Pharmaceuticals in a report on Thursday, May 21st. They set a "buy" rating and a $25.00 price objective for the company. Zacks Research raised Eupraxia Pharmaceuticals from a "strong sell" rating to a "hold" rating in a research note on Thursday, May 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Eupraxia Pharmaceuticals in a research note on Friday, July 17th. Oppenheimer assumed coverage on Eupraxia Pharmaceuticals in a report on Thursday, June 25th. They set an "outperform" rating and a $17.00 price target for the company. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $11.00 price objective on shares of Eupraxia Pharmaceuticals in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Eupraxia Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $18.00.

About Eupraxia Pharmaceuticals

Eupraxia Pharmaceuticals, Inc NASDAQ: EPRX is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for autoimmune and inflammatory diseases. The company's core strategy centers on selectively expanding regulatory T cells (Tregs)—immune cells responsible for maintaining self-tolerance and limiting pathological inflammation—through its proprietary platform. Its lead therapeutic candidate is currently in Phase 1 clinical development in patients with systemic lupus erythematosus.

Based in Seattle, Washington, Eupraxia Pharmaceuticals conducts research and development activities across North America, collaborating with academic institutions and contract research organizations to advance its pipeline.

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