Craig-Hallum starts Eupraxia at Buy, sees ‘significant upside’ potential

As previously reported, Craig-Hallum analyst Albert Lowe initiated coverage of Eupraxia Pharmaceuticals (EPRX) with a Buy rating and $12 price target Eupraxia is leveraging its DiffuSphere drug delivery technology to develop an extended-release fluticasone propionate corticosteroid injection that has completed a Phase 2b study to treat knee arthritis pain and is in an ongoing Phase 1a/2b study in eosinophilic esophagitis, the analyst tells investors. These programs “illustrate DiffuSphere’s value proposition” by providing efficacy for over six months with a single dose and filling unmet needs in the respective settings, says the firm, which sees “significant upside” around upcoming catalysts this year.