Eupraxia Pharmaceuticals (NASDAQ:EPRX) Shares Down 10.2% – Time to Sell?

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX)’s share price dropped 10.2% on Thursday. The company traded as low as $8.20 and last traded at $8.1740. 103,276 shares were traded during mid-day trading, a decline of 67% from the average session volume of 316,450 shares. The stock had previously closed at $9.10.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on EPRX shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Eupraxia Pharmaceuticals in a report on Wednesday, July 15th. Wall Street Zen raised Eupraxia Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday, September 12th. Stifel Nicolaus set a $25.00 target price on Eupraxia Pharmaceuticals in a research report on Thursday, September 24th. Wedbush initiated coverage on shares of 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, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research note on Friday, July 17th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.80.

Eupraxia Pharmaceuticals Stock Down 9.9%

The firm has a market cap of $533.10 million, a P/E ratio of -8.00 and a beta of 1.07. 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 business has a 50-day moving average price of $7.31 and a 200-day moving average price of $7.02.

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

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

Large investors have recently bought and sold shares of the business. Persistent Asset Partners Ltd purchased a new stake in Eupraxia Pharmaceuticals during the second quarter worth $25,000. BlackRock Inc. purchased a new position in shares of Eupraxia Pharmaceuticals in the 2nd quarter valued at $40,000. AXQ Capital LP raised its position in shares of Eupraxia Pharmaceuticals by 34.2% in the 2nd quarter. AXQ Capital LP now owns 21,150 shares of the company’s stock worth $140,000 after acquiring an additional 5,390 shares in the last quarter. Cibc World Market Inc. purchased a new stake in shares of Eupraxia Pharmaceuticals during the 2nd quarter worth $1,539,000. Finally, Royal Bank of Canada boosted its position in Eupraxia Pharmaceuticals by 33.2% during the first quarter. Royal Bank of Canada now owns 261,376 shares of the company’s stock valued at $1,893,000 after purchasing an additional 65,099 shares in the last quarter.

Eupraxia Pharmaceuticals Company Profile

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.