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

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) was up 11.4% during mid-day trading on Tuesday. The stock traded as high as $7.66 and last traded at $7.74. Approximately 447,718 shares were traded 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.

Wall Street Analysts Forecast Growth

EPRX has been the subject of several analyst reports. Wedbush began coverage on Eupraxia Pharmaceuticals in a report on Thursday, September 24th. They set an “outperform” rating and a $17.00 price objective for the company. HC Wainwright restated a “buy” rating and set a $11.00 target price on shares of Eupraxia Pharmaceuticals in a research note on Thursday, October 1st. Stifel Nicolaus set a $25.00 target price on Eupraxia Pharmaceuticals in a research report on Thursday, September 24th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research report on Thursday, October 8th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research note on Thursday. Two investment 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.80.

Eupraxia Pharmaceuticals Price Performance

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 firm has a market cap of $499.68 million, a price-to-earnings ratio of -7.53 and a beta of 0.83. The stock’s 50 day simple moving average is $7.54 and its 200-day simple moving average is $7.03.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.02. Equities research analysts anticipate that Eupraxia Pharmaceuticals Inc. will post -0.85 EPS for the current fiscal year.

Institutional Trading of Eupraxia Pharmaceuticals

Several large investors have recently added to or reduced their stakes in EPRX. Affinity Asset Advisors LLC increased its holdings in shares of Eupraxia Pharmaceuticals by 429.7% in the first quarter. Affinity Asset Advisors LLC now owns 1,589,005 shares of the company’s stock valued at $11,504,000 after purchasing an additional 1,289,005 shares during the period. Jupiter Topco LLC purchased a new position in shares of Eupraxia Pharmaceuticals in the second quarter worth about $6,851,000. Seven Fleet Capital Management LP purchased a new position in shares of Eupraxia Pharmaceuticals in the first quarter worth about $5,137,000. Redmile Group LLC acquired a new stake in shares of Eupraxia Pharmaceuticals during the first quarter worth about $5,068,000. Finally, Rubric Capital Management LP acquired a new stake in shares of Eupraxia Pharmaceuticals during the first quarter worth about $5,004,000.

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.