Eupraxia Pharmaceuticals initiated with an Outperform at William Blair

William Blair initiated coverage of Eupraxia Pharmaceuticals (EPRX) with an Outperform rating and $14 fair value estimate. Eupraxia is a clinical-stage biotechnology company developing extended-release therapies for site- specific administration, with an initial focus on eosinophilic esophagitis and other gastrointestinal diseases, the analyst tells investors in a research note. The firm says initial results from the dose-escalation portion of the ongoing Phase Ib/II RESOLVE study support the “potential for differentiated efficacy with the convenience of annual administration and clean safety.”