Eupraxia Pharmaceuticals (NASDAQ:EPRX) Stock Price Up 11.4% - Time to Buy?

Key Points

• Eupraxia Pharmaceuticals shares jumped 11.4% to $7.74, with trading volume about 20% above its average.
• Analyst sentiment is generally positive, with a consensus rating of “Moderate Buy” and an average price target of $17.80, although Weiss Ratings maintains a sell rating.
• The clinical-stage biotech exceeded quarterly EPS expectations, while several hedge funds—including Seven Fleet Capital, Redmile Group and Rubric Capital—recently initiated positions.

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX - Get Free Report)'s share price was up 11.4% on Tuesday. The company traded as high as $7.66 and last traded at $7.74. 447,718 shares traded hands during mid-day trading, an increase of 20% from the average daily volume of 372,033 shares. The stock had previously closed at $6.95.

Analyst Ratings Changes

Several brokerages have weighed in on EPRX. Stifel Nicolaus set a $25.00 price objective on Eupraxia Pharmaceuticals in a research note on Thursday, September 24th. Wedbush began coverage on shares of Eupraxia Pharmaceuticals in a research note on Thursday, September 24th. They issued an "outperform" rating and a $17.00 target price on the stock. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Eupraxia Pharmaceuticals in a research report on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Eupraxia Pharmaceuticals in a research note on Thursday, October 8th. Finally, HC Wainwright reiterated a "buy" rating and issued a $11.00 price target on shares of Eupraxia Pharmaceuticals in a report on Thursday, October 1st. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $17.80.

Eupraxia Pharmaceuticals Trading Up 10.6%

The stock has a market capitalization of $499.68 million, a P/E ratio of -7.53 and a beta of 0.83. The stock's 50 day moving average price is $7.54 and its 200-day moving average price is $7.03. 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 (NASDAQ:EPRX - Get Free Report) last issued 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. As a group, equities research analysts expect that Eupraxia Pharmaceuticals Inc. will post -0.85 earnings per share for the current year.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

A number of hedge funds have recently made changes to their positions in EPRX. Seven Fleet Capital Management LP purchased a new stake in shares of Eupraxia Pharmaceuticals during the first quarter valued at about $5,137,000. Redmile Group LLC bought a new stake in shares of Eupraxia Pharmaceuticals in the 1st quarter valued at about $5,068,000. Rubric Capital Management LP purchased a new position in shares of Eupraxia Pharmaceuticals in the 1st quarter worth approximately $5,004,000. Cibc World Market Inc. purchased a new position in shares of Eupraxia Pharmaceuticals in the 2nd quarter worth approximately $1,539,000. Finally, DV Trading LLC purchased a new position in shares of Eupraxia Pharmaceuticals in the 1st quarter worth approximately $1,998,000.

Eupraxia Pharmaceuticals Company Profile

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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