Botanix Pharmaceuticals' (ASX:BOT) stock slump is backed by no "good" company-specific reason aside from broader macroeconomic factors, said Euroz Hartleys in a Thursday note.

The stock has seen continuous sessions of losses since it reported a wider fiscal first-half loss of AU$0.017 per diluted share, wider compared with a loss of AU$0.0038 a year earlier.

The research firm believes the company's half-year results were unsurprising, and the extent of the stock's decline remains "puzzling."

The company will see a negligible financial impact from the newly imposed 25% tariff on Canadian exports, the note added.

The research firm maintained its buy rating and price target of AU$0.55 on Botanix Pharmaceuticals.