Eupraxia Pharmaceuticals (NASDAQ:EPRX) Shares Gap Down – What’s Next?
by Renee Jackson · The Cerbat GemEupraxia Pharmaceuticals Inc. (NASDAQ:EPRX – Get Free Report)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $8.42, but opened at $8.05. Eupraxia Pharmaceuticals shares last traded at $8.01, with a volume of 16,943 shares changing hands.
Analysts Set New Price Targets
Several equities analysts have weighed in on the company. Wall Street Zen raised Eupraxia Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Saturday. Stifel Nicolaus began coverage on Eupraxia Pharmaceuticals in a research note on Thursday, May 21st. They issued a “buy” rating and a $25.00 target price for the company. Oppenheimer began coverage on shares of Eupraxia Pharmaceuticals in a research note on Thursday, June 25th. They set an “outperform” rating and a $17.00 price target on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research note on Wednesday, July 15th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research report on Friday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, five 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 has an average rating of “Moderate Buy” and an average price target of $18.00.
Check Out Our Latest Stock Analysis on Eupraxia Pharmaceuticals
Eupraxia Pharmaceuticals Stock Up 0.6%
The company has a quick ratio of 16.00, a current ratio of 16.00 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $527.95 million, a price-to-earnings ratio of -7.96 and a beta of 1.07. The stock has a 50 day moving average of $6.87 and a 200 day moving average of $6.99.
Eupraxia Pharmaceuticals (NASDAQ:EPRX – Get Free Report) last issued its quarterly earnings results on Tuesday, August 11th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.02. As a group, analysts expect that Eupraxia Pharmaceuticals Inc. will post -0.85 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of large investors have recently modified their holdings of the business. Persistent Asset Partners Ltd acquired a new position in Eupraxia Pharmaceuticals in the second quarter valued at approximately $25,000. BlackRock Inc. bought a new position in shares of Eupraxia Pharmaceuticals during the second quarter valued at approximately $40,000. AXQ Capital LP raised its position in shares of Eupraxia Pharmaceuticals by 34.2% during the 2nd quarter. AXQ Capital LP now owns 21,150 shares of the company’s stock worth $140,000 after purchasing an additional 5,390 shares during the period. Cibc World Market Inc. acquired a new stake in shares of Eupraxia Pharmaceuticals during the 2nd quarter worth approximately $1,539,000. Finally, Royal Bank of Canada lifted its holdings in shares of Eupraxia Pharmaceuticals by 33.2% in the 1st quarter. Royal Bank of Canada now owns 261,376 shares of the company’s stock worth $1,893,000 after purchasing an additional 65,099 shares during the last quarter.
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.