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Investing.com - Cantor Fitzgerald has reiterated its Overweight rating and $11.00 price target on Eupraxia Pharmaceuticals (NASDAQ:EPRX), citing the company’s promising approach to treating eosinophilic esophagitis (EoE). The $208 million market cap company has shown impressive momentum, with shares surging over 70% in the past six months. According to InvestingPro data, analyst targets range from $11 to $12, suggesting further upside potential.
The research firm highlighted that EoE represents a substantial and expanding market, with the treated U.S. population estimated at approximately 159,000 patients. Market data indicates a five-fold increase in EoE prevalence since 2009, underscoring the growing need for effective treatments. InvestingPro analysis shows the company maintains a strong financial position with a current ratio of 8.72 and more cash than debt on its balance sheet, providing runway for clinical development.
Cantor Fitzgerald views Eupraxia’s EP-104GI as clinically de-risked since it utilizes steroids, which have proven efficacy in EoE. The firm noted that EP-104GI could integrate seamlessly into current treatment protocols, as it would add only minutes to the annual endoscopy procedures already recommended for EoE patients.
The research firm emphasized potential advantages of EP-104GI over existing treatments, including Dupixent, which requires weekly injections. EP-104GI’s "set it and forget it" approach could offer greater convenience while targeting steroids directly to the esophageal wall and reducing peak drug exposure.
Early dose-escalation data from EP-104GI’s Phase 1b/2a trial demonstrates both safety and efficacy in managing symptoms and histological changes up to one year post-administration, with the company’s placebo-controlled Phase 2b trial now underway and results expected in the third quarter of 2026. Investors should note that Eupraxia’s next earnings report is scheduled for November 5, 2025. InvestingPro subscribers have access to 8 additional key insights about EPRX’s financial health and growth prospects.
In other recent news, Eupraxia Pharmaceuticals Inc. has successfully closed its public offering, raising approximately $80.5 million in gross proceeds. The offering involved 14,636,363 common shares priced at $5.50 each, with Cantor and LifeSci Capital acting as joint book-running managers, and Bloom Burton serving as co-manager. This follows the company’s earlier pricing announcement for a $70 million public offering, which included a 30-day option for underwriters to purchase additional shares. Eupraxia had previously filed a preliminary prospectus supplement for this public offering, indicating plans to grant underwriters a 30-day option to buy up to an additional 15% of the shares offered. Meanwhile, H.C. Wainwright has reiterated its Buy rating on Eupraxia Pharmaceuticals, maintaining a $12.00 price target. The analyst firm’s stance comes after Celldex, a competitor, decided to discontinue its EoE treatment development due to unsatisfactory clinical results. These developments reflect Eupraxia’s strategic financial and market positioning amid industry changes.
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