Eupraxia Pharmaceuticals initiated with a Speculative Buy at Canaccord

Canaccord initiated coverage of Eupraxia Pharmaceuticals (EPRX) with a Speculative Buy rating and C$9 price target In May 2024, the company shifted focus from knee osteoarthritis to eosinophilic esophagitis, a chronic, immune-mediated condition of the esophagus with rising prevalence and limited treatment options, the analyst tells investors in a research note. The firm says data from the ongoing Phase 1b/2a of Eupraxia’s lead candidate, EP-104GI, suggest the product could offer “unprecedented durability and safety, potentially establishing it as a first-line treatment with annual dosing.”