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Investing.com - H.C. Wainwright has reiterated its Buy rating and $12.00 price target on Eupraxia Pharmaceuticals (NASDAQ:EPRX), whose shares have surged nearly 70% year-to-date. According to InvestingPro data, analysts maintain a strong bullish consensus on the stock, with price targets ranging from $11 to $12.
The firm’s decision follows recent developments in the eosinophilic esophagitis (EoE) treatment landscape, where competitor Celldex (NASDAQ:CLDX) announced it would discontinue development of its barzolvolimab treatment for EoE after disappointing clinical results.
According to H.C. Wainwright, Celldex’s study showed that while barzolvolimab successfully depleted intraepithelial mast cells in the gastrointestinal tract, it failed to improve EoE symptoms or endoscopic measures compared to placebo.
The research firm believes these results support its view that targeted biologics are unlikely to provide comprehensive solutions for EoE due to the disease’s complexity and multiple inflammatory pathways.
H.C. Wainwright expressed confidence in Eupraxia’s lead asset EP-104GI, a long-acting fluticasone propionate injectable suspension administered into the esophageal wall, suggesting its potential for once-annual dosing could align with patients’ annual endoscopy schedules. For deeper insights into Eupraxia’s financial health and growth potential, including 12 additional exclusive ProTips, visit InvestingPro.
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