H.C. Wainwright analyst Brandon Folkes maintained a Buy rating on Eupraxia Pharmaceuticals today and set a price target of $12.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Brandon Folkes has given his Buy rating due to a combination of factors surrounding Eupraxia Pharmaceuticals’ promising developments in their RESOLVE trial for eosinophilic esophagitis (EoE). The company’s recent announcement about dosing the first patient in the Phase 2b portion of the trial highlights the positive safety and efficacy results from earlier cohorts, particularly Cohort 8. This cohort showed significant potential for EP-104GI, a drug designed to deliver localized treatment with minimal systemic side effects, which is crucial for managing EoE effectively.
Furthermore, the selection of the 120 mg dose from Cohort 8 for the Phase 2b trial underscores the confidence in its tolerability and efficacy. The early data indicates a substantial reduction in Peak Eosinophil Count and improved histology scores, suggesting a strong therapeutic effect. The ongoing evaluation and expected data releases in the coming years bolster the belief that EP-104GI could become a best-in-class treatment for EoE, justifying the Buy rating and the $12 price target for EPRX shares.