Eupraxia Pharmaceuticals (NASDAQ:EPRX) Sees Unusually-High Trading Volume – Time to Buy?

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) saw strong trading volume on Friday . 3,055,170 shares were traded during mid-day trading, an increase of 996% from the previous session’s volume of 278,730 shares.The stock last traded at $8.01 and had previously closed at $7.50.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Oppenheimer started coverage on shares of Eupraxia Pharmaceuticals in a research report on Thursday, June 25th. They issued an “outperform” rating and a $17.00 price target on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Eupraxia Pharmaceuticals in a research note on Wednesday, July 15th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research note on Friday, July 17th. Stifel Nicolaus initiated coverage on Eupraxia Pharmaceuticals in a research report on Thursday, May 21st. They set a “buy” rating and a $25.00 target price on the stock. Finally, Wall Street Zen lowered Eupraxia Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $18.00.

Eupraxia Pharmaceuticals Stock Performance

The business’s fifty day moving average price is $6.68 and its 200-day moving average price is $7.00. The company has a debt-to-equity ratio of 0.02, a current ratio of 16.00 and a quick ratio of 16.00. The stock has a market capitalization of $546.17 million, a PE ratio of -8.24 and a beta of 1.07.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last issued its quarterly earnings data on Tuesday, August 11th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.25) by $0.02. As a group, equities research analysts expect that Eupraxia Pharmaceuticals Inc. will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Affinity Asset Advisors LLC raised its position in shares of Eupraxia Pharmaceuticals by 429.7% in the first quarter. Affinity Asset Advisors LLC now owns 1,589,005 shares of the company’s stock worth $11,504,000 after buying an additional 1,289,005 shares in the last quarter. Vivo Capital LLC purchased a new position in Eupraxia Pharmaceuticals during the third quarter worth about $7,965,000. Jupiter Topco LLC purchased a new position in Eupraxia Pharmaceuticals during the second quarter worth about $6,851,000. Seven Fleet Capital Management LP bought a new position in Eupraxia Pharmaceuticals in the 1st quarter worth about $5,137,000. Finally, Redmile Group LLC purchased a new stake in shares of Eupraxia Pharmaceuticals in the 1st quarter valued at about $5,068,000.

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.