HC Wainwright Reaffirms Buy Rating for Eupraxia Pharmaceuticals (NASDAQ:EPRX)

Eupraxia Pharmaceuticals (NASDAQ:EPRX)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research report issued on Friday,Benzinga reports. They presently have a $12.00 price target on the stock. HC Wainwright’s price target points to a potential upside of 47.78% from the company’s current price.

A number of other research analysts also recently weighed in on the stock. Lifesci Capital upgraded shares of Eupraxia Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, December 11th. Leede Financial raised Eupraxia Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Eupraxia Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $11.67.

Eupraxia Pharmaceuticals Price Performance

Eupraxia Pharmaceuticals stock opened at $8.12 on Friday. Eupraxia Pharmaceuticals has a one year low of $2.68 and a one year high of $8.74. The business’s fifty day moving average is $6.58 and its 200 day moving average is $5.88. The stock has a market capitalization of $292.00 million, a PE ratio of -9.33 and a beta of 1.21.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last issued its earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.04. As a group, sell-side analysts expect that Eupraxia Pharmaceuticals will post -0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Vivo Capital LLC bought a new position in shares of Eupraxia Pharmaceuticals in the third quarter worth about $7,965,000. Ally Bridge Group NY LLC purchased a new position in Eupraxia Pharmaceuticals in the 3rd quarter worth approximately $5,398,000. Velan Capital Investment Management LP bought a new position in Eupraxia Pharmaceuticals in the 3rd quarter worth approximately $2,077,000. Royal Bank of Canada boosted its stake in Eupraxia Pharmaceuticals by 21.1% in the 1st quarter. Royal Bank of Canada now owns 342,828 shares of the company’s stock worth $1,125,000 after purchasing an additional 59,683 shares during the period. Finally, Alyeska Investment Group L.P. purchased a new stake in Eupraxia Pharmaceuticals during the 3rd quarter valued at approximately $1,475,000.

About Eupraxia Pharmaceuticals

Eupraxia Pharmaceuticals, Inc (NASDAQ: EPRX) is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for autoimmune and inflammatory diseases. The company’s core strategy centers on selectively expanding regulatory T cells (Tregs)—immune cells responsible for maintaining self-tolerance and limiting pathological inflammation—through its proprietary platform. Its lead therapeutic candidate is currently in Phase 1 clinical development in patients with systemic lupus erythematosus.

Based in Seattle, Washington, Eupraxia Pharmaceuticals conducts research and development activities across North America, collaborating with academic institutions and contract research organizations to advance its pipeline.