Eupraxia Pharmaceuticals (NASDAQ:EPRX) Shares Break Above 200-Day Moving Average - What's Next?

Key Points

• Eupraxia Pharmaceuticals shares broke above their 200-day moving average, reaching $7.42 and last trading at $7.38 versus the $7.33 average, with roughly 420,000 shares changing hands.
• Analyst sentiment is broadly positive, with a “Moderate Buy” consensus and an average price target of $17.80, although ratings range from Strong Buy to Strong Sell.
• The clinical-stage biopharmaceutical company reported a quarterly loss of $0.23 per share, beating expectations by $0.02; analysts forecast a full-year loss of $0.85 per share.

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $7.33 and traded as high as $7.42. Eupraxia Pharmaceuticals shares last traded at $7.38, with a volume of 419,985 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on EPRX shares. Weiss Ratings restated a "sell (d-)" rating on shares of Eupraxia Pharmaceuticals in a research note on Thursday, October 15th. Stifel Nicolaus set a $25.00 price objective on Eupraxia Pharmaceuticals in a research report on Thursday, September 24th. Wedbush started coverage on Eupraxia Pharmaceuticals in a report on Thursday, September 24th. They issued an "outperform" rating and a $17.00 target price on the stock. HC Wainwright reissued a "buy" rating and issued a $11.00 target price on shares of Eupraxia Pharmaceuticals in a report on Thursday, October 1st. Finally, Wall Street Zen cut Eupraxia Pharmaceuticals from a "sell" rating to a "strong sell" rating in a research report on Saturday, October 17th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $17.80.

Eupraxia Pharmaceuticals Stock Up 4.2%

The company has a debt-to-equity ratio of 0.02, a current ratio of 16.00 and a quick ratio of 16.00. The company has a market capitalization of $479.85 million, a PE ratio of -7.24 and a beta of 0.83. The business has a 50-day moving average of $7.59 and a 200 day moving average of $7.33.

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. Equities research analysts predict that Eupraxia Pharmaceuticals Inc. will post -0.85 earnings per share for the current year.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Persistent Asset Partners Ltd bought a new position in Eupraxia Pharmaceuticals in the 2nd quarter valued at $25,000. BlackRock Inc. purchased a new stake in Eupraxia Pharmaceuticals in the second quarter worth $40,000. China Universal Asset Management Co. Ltd. lifted its position in shares of Eupraxia Pharmaceuticals by 28.0% during the third quarter. China Universal Asset Management Co. Ltd. now owns 16,000 shares of the company's stock worth $133,000 after purchasing an additional 3,500 shares during the last quarter. AXQ Capital LP lifted its position in shares of Eupraxia Pharmaceuticals by 34.2% during the second quarter. AXQ Capital LP now owns 21,150 shares of the company's stock worth $140,000 after purchasing an additional 5,390 shares during the last quarter. Finally, Cibc World Market Inc. bought a new stake in shares of Eupraxia Pharmaceuticals during the second quarter worth $1,539,000.

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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