Analyst Brandon Folkes from H.C. Wainwright reiterated a Buy rating on Eupraxia Pharmaceuticals and keeping the price target at $12.00.
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Brandon Folkes has given his Buy rating due to a combination of factors including Eupraxia Pharmaceuticals’ significant pipeline advancements and disciplined financial management. The company reported substantial progress in its EP-104GI program, particularly in the Phase 2b RESOLVE trial for eosinophilic esophagitis, which showed promising clinical results and maintained a consistent safety profile.
Additionally, Eupraxia’s financial position is strong, with a cash runway projected to last until 2028, allowing for continued development and expansion of their clinical programs. The expansion of the Phase 2b trial to include more patients is expected to enhance the statistical power and safety database, which could optimize dosing for future phases. These factors collectively support the Buy rating and the $12 price target set by Brandon Folkes.
Folkes covers the Healthcare sector, focusing on stocks such as MannKind, Eupraxia Pharmaceuticals, and Achieve Life Sciences. According to TipRanks, Folkes has an average return of -1.2% and a 40.33% success rate on recommended stocks.