Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) Stock Has Average Target Price of $18.00

Shares of Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, six have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $17.80.

A number of equities research analysts recently commented on the company. Weiss Ratings restated a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research report on Friday, July 17th. Cantor Fitzgerald reissued an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research note on Wednesday, July 15th. Oppenheimer assumed coverage on Eupraxia Pharmaceuticals in a research note on Thursday, June 25th. They issued an “outperform” rating and a $17.00 price objective on the stock. Wall Street Zen upgraded Eupraxia Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, September 12th. Finally, Stifel Nicolaus set a $25.00 target price on Eupraxia Pharmaceuticals in a research note on Thursday.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AXQ Capital LP raised its stake in shares of Eupraxia Pharmaceuticals by 34.2% in the second quarter. AXQ Capital LP now owns 21,150 shares of the company’s stock worth $140,000 after acquiring an additional 5,390 shares during the last quarter. Seven Fleet Capital Management LP acquired a new position in shares of Eupraxia Pharmaceuticals during the second quarter worth approximately $4,037,289. Bank of America Corp DE bought a new stake in shares of Eupraxia Pharmaceuticals during the second quarter valued at approximately $1,750,000. Jupiter Topco LLC bought a new stake in shares of Eupraxia Pharmaceuticals during the second quarter valued at approximately $6,851,000. Finally, Cibc World Market Inc. acquired a new stake in shares of Eupraxia Pharmaceuticals in the second quarter valued at approximately $1,539,000.

Eupraxia Pharmaceuticals Price Performance

Shares of Eupraxia Pharmaceuticals stock opened at $8.21 on Tuesday. The company has a current ratio of 16.00, a quick ratio of 16.00 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $533.81 million, a price-to-earnings ratio of -8.05 and a beta of 1.07. Eupraxia Pharmaceuticals has a 1-year low of $5.25 and a 1-year high of $9.32. The firm’s 50-day moving average price is $7.22 and its two-hundred day moving average price is $7.00.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.02. On average, equities analysts predict that Eupraxia Pharmaceuticals will post -0.85 earnings per share for the current fiscal year.

About Eupraxia Pharmaceuticals

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.