Eupraxia Pharmaceuticals (NASDAQ:EPRX) Stock Price Up 5.2% – What’s Next?

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX)’s stock price traded up 5.2% during mid-day trading on Friday. The stock traded as high as $8.09 and last traded at $8.2150. 433,505 shares traded hands during mid-day trading, an increase of 11% from the average session volume of 389,977 shares. The stock had previously closed at $7.81.

Analysts Set New Price Targets

EPRX has been the subject of a number of research analyst reports. Cantor Fitzgerald restated an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research note on Thursday, October 8th. Wall Street Zen lowered Eupraxia Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Sunday, November 8th. Wedbush started coverage on Eupraxia Pharmaceuticals in a research report on Thursday, September 24th. They set an “outperform” rating and a $17.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a report on Thursday, October 15th. Finally, HC Wainwright boosted their target price on shares of Eupraxia Pharmaceuticals from $11.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.00.

Eupraxia Pharmaceuticals Stock Performance

The company has a debt-to-equity ratio of 0.03, a quick ratio of 16.00 and a current ratio of 12.25. The stock has a market capitalization of $548.07 million, a P/E ratio of -7.68 and a beta of 1.04. The business has a 50-day moving average price of $7.63 and a 200 day moving average price of $7.25.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last posted its quarterly earnings data on Tuesday, November 10th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. As a group, sell-side analysts forecast that Eupraxia Pharmaceuticals Inc. will post -0.90 EPS for the current fiscal year.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

Several institutional investors and hedge funds have recently modified their holdings of the stock. Affinity Asset Advisors LLC boosted its stake in Eupraxia Pharmaceuticals by 429.7% in the 1st 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 bought a new stake in Eupraxia Pharmaceuticals during the 2nd quarter valued at about $6,851,000. Seven Fleet Capital Management LP bought a new stake in Eupraxia Pharmaceuticals during the 1st quarter valued at about $5,137,000. Redmile Group LLC purchased a new position in Eupraxia Pharmaceuticals in the first quarter worth about $5,068,000. Finally, Rubric Capital Management LP purchased a new position in Eupraxia Pharmaceuticals in the first quarter worth about $5,004,000.

Eupraxia Pharmaceuticals Company Profile

Eupraxia Pharmaceuticals is a clinical-stage biotechnology company developing treatments that use its DiffuSphere drug-delivery technology. The polymer-based platform is designed to release medicines over an extended period and deliver them locally to targeted tissues. The company’s lead candidate, EP-104IAR, is an extended-release formulation of fluticasone propionate being developed as an injection into the knee for people with osteoarthritis. Eupraxia is also exploring applications of its delivery platform in other conditions, including eosinophilic esophagitis.