Eupraxia Pharmaceuticals (NASDAQ:EPRX) Shares Gap Up – Here’s Why

Shares of Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) gapped up prior to trading on Thursday . The stock had previously closed at $8.14, but opened at $8.35. Eupraxia Pharmaceuticals shares last traded at $8.08, with a volume of 12,414 shares.

Analyst Ratings Changes

A number of research analysts have recently weighed in on EPRX shares. Oppenheimer assumed coverage on shares of Eupraxia Pharmaceuticals in a report on Thursday, June 25th. They set an “outperform” rating and a $17.00 price target on the stock. Wall Street Zen raised Eupraxia Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Saturday, September 12th. Stifel Nicolaus set a $25.00 target price on Eupraxia Pharmaceuticals in a report on Thursday. Cantor Fitzgerald reiterated an “overweight” rating on shares of Eupraxia Pharmaceuticals in a report on Wednesday, July 15th. Finally, Weiss Ratings reissued 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, six have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Eupraxia Pharmaceuticals presently has an average rating of “Moderate Buy” and an average price target of $17.80.

Eupraxia Pharmaceuticals Price Performance

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 cap of $514.30 million, a P/E ratio of -7.79 and a beta of 1.07. The company’s fifty day simple moving average is $7.11 and its 200-day simple moving average is $7.00.

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, beating analysts’ consensus estimates of ($0.25) by $0.02. As a group, sell-side analysts forecast that Eupraxia Pharmaceuticals Inc. will post -0.85 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Affinity Asset Advisors LLC boosted its stake in 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 purchasing an additional 1,289,005 shares in the last quarter. Jupiter Topco LLC acquired a new stake in Eupraxia Pharmaceuticals in the second quarter worth about $6,851,000. Seven Fleet Capital Management LP bought a new stake in Eupraxia Pharmaceuticals during the 1st quarter worth about $5,137,000. Redmile Group LLC acquired a new position in Eupraxia Pharmaceuticals during the 1st quarter valued at about $5,068,000. Finally, Rubric Capital Management LP acquired a new stake in shares of Eupraxia Pharmaceuticals during the 1st quarter worth approximately $5,004,000.

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.