Eupraxia Pharmaceuticals (NASDAQ:EPRX) Shares Gap Up - Here's Why

Key Points

• Eupraxia Pharmaceuticals shares opened higher, rising from a prior close of $8.14 to $8.35 before trading at $8.08 on volume of 12,414 shares.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $17.80; Stifel Nicolaus set a $25 target, while Oppenheimer and Wedbush assigned $17 targets and “outperform” ratings.
• The clinical-stage biotech reported a quarterly loss of $0.23 per share, beating estimates for a $0.25 loss. Its lead candidate, EP-104I, is an extended-release treatment being developed for knee osteoarthritis.

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $8.14, but opened at $8.35. Eupraxia Pharmaceuticals shares last traded at $8.08, with a volume of 12,414 shares.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Wall Street Zen upgraded Eupraxia Pharmaceuticals from a "strong sell" rating to a "sell" rating in a research report on Saturday, September 12th. Stifel Nicolaus set a $25.00 target price on Eupraxia Pharmaceuticals in a research note on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Eupraxia Pharmaceuticals in a report on Wednesday, July 15th. Oppenheimer started coverage on shares of Eupraxia Pharmaceuticals in a report on Thursday, June 25th. They issued an "outperform" rating and a $17.00 price target for the company. Finally, Wedbush assumed coverage on shares of Eupraxia Pharmaceuticals in a research report on Thursday. They set an "outperform" rating and a $17.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.80.

Eupraxia Pharmaceuticals Price Performance

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 firm has a market cap of $514.30 million, a price-to-earnings ratio of -7.79 and a beta of 1.07. The stock's fifty day moving average price is $7.11 and its 200-day moving average price is $7.00.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The company reported ($0.23) EPS for the quarter, topping analysts' consensus estimates of ($0.25) by $0.02. Equities research analysts predict that Eupraxia Pharmaceuticals Inc. will post -0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

Hedge funds have recently modified their holdings of the stock. Persistent Asset Partners Ltd purchased a new stake in shares of Eupraxia Pharmaceuticals during the second quarter worth $25,000. BlackRock Inc. acquired a new position in Eupraxia Pharmaceuticals in the 2nd quarter worth about $40,000. AXQ Capital LP raised its stake in shares of Eupraxia Pharmaceuticals by 34.2% during the 2nd quarter. AXQ Capital LP now owns 21,150 shares of the company's stock worth $140,000 after purchasing an additional 5,390 shares in the last quarter. Cibc World Market Inc. bought a new stake in shares of Eupraxia Pharmaceuticals in the 2nd quarter valued at approximately $1,539,000. Finally, Bank of America Corp DE bought a new stake in shares of Eupraxia Pharmaceuticals in the 2nd quarter valued at approximately $1,750,000.

Eupraxia Pharmaceuticals Company Profile

Eupraxia Pharmaceuticals Inc NASDAQ: EPRX is a clinical-stage biotechnology company based in Canada. The company develops locally administered therapies intended to treat inflammatory, fibrotic and other diseases while limiting patients' exposure to medication throughout the body.

Eupraxia's development programs are built around its proprietary Diffusion Driven Drug Delivery (3D) platform. The technology is designed to provide controlled, sustained release of pharmaceutical compounds at targeted sites, potentially extending treatment effects and reducing systemic side effects.

The company's lead product candidate, EP-104I, is an extended-release formulation of fluticasone propionate being developed for intra-articular administration in patients with osteoarthritis of the knee.

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