Analyst Brandon Folkes of H.C. Wainwright reiterated a Buy rating on Eupraxia Pharmaceuticals, retaining the price target of $12.00.
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Brandon Folkes has given his Buy rating due to a combination of factors that highlight the potential of Eupraxia Pharmaceuticals’ EP-104GI as a leading treatment for eosinophilic esophagitis (EoE). The recent 12-month data from the Phase 1b/2a RESOLVE trial demonstrated that EP-104GI could be effectively dosed annually, offering a significant advantage over current treatments. This once-yearly dosing aligns with routine clinical practices and could reduce the need for additional medical procedures, making it a more convenient option for patients and healthcare providers.
Furthermore, the trial results showed that EP-104GI maintained clinical and histologic efficacy over the 12-month period, with a majority of patients in the higher dose cohort achieving clinical remission. The drug’s pharmacokinetic profile supports sustained release at effective levels without significant safety concerns, which is crucial for long-term treatment. The promising data, combined with the potential market size of over one million EoE patients in the U.S., suggests that EP-104GI could capture a significant market share, which is not yet reflected in Eupraxia’s current market valuation.