Eupraxia Pharmaceuticals (NASDAQ:EPRX) Downgraded by Wall Street Zen to “Strong Sell”

Wall Street Zen downgraded shares of Eupraxia Pharmaceuticals (NASDAQ:EPRX) from a sell rating to a strong sell rating in a research note released on Sunday,Wall Street Zen reports.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Eupraxia Pharmaceuticals in a report on Thursday, October 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a report on Thursday, October 15th. HC Wainwright restated a “buy” rating and issued a $11.00 price objective on shares of Eupraxia Pharmaceuticals in a research report on Thursday, October 1st. Wedbush assumed coverage on Eupraxia Pharmaceuticals in a research note on Thursday, September 24th. They set an “outperform” rating and a $17.00 target price for the company. Finally, Stifel Nicolaus set a $25.00 target price on Eupraxia Pharmaceuticals in a research report on Thursday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.80.

Eupraxia Pharmaceuticals Price Performance

EPRX opened at $6.89 on Friday. The company has a fifty day moving average of $7.55 and a two-hundred day moving average of $7.27. The stock has a market capitalization of $463.30 million, a price-to-earnings ratio of -6.75 and a beta of 1.04. Eupraxia Pharmaceuticals has a fifty-two week low of $5.29 and a fifty-two week high of $9.32. The company has a debt-to-equity ratio of 0.02, a quick ratio of 16.00 and a current ratio of 16.00.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last posted its earnings results on Tuesday, August 11th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.02. On average, research analysts expect that Eupraxia Pharmaceuticals will post -0.90 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of EPRX. Affinity Asset Advisors LLC increased its position in shares of Eupraxia Pharmaceuticals by 429.7% during the first quarter. Affinity Asset Advisors LLC now owns 1,589,005 shares of the company’s stock worth $11,504,000 after purchasing an additional 1,289,005 shares in the last quarter. Jupiter Topco LLC acquired a new stake in shares of Eupraxia Pharmaceuticals in the 2nd quarter worth $6,851,000. Seven Fleet Capital Management LP purchased a new position in Eupraxia Pharmaceuticals during the first quarter worth about $5,137,000. Redmile Group LLC purchased a new stake in shares of Eupraxia Pharmaceuticals during the 1st quarter valued at approximately $5,068,000. Finally, Rubric Capital Management LP acquired a new stake in Eupraxia Pharmaceuticals during the first quarter worth $5,004,000.

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.