Cantor Fitzgerald Initiates Coverage on Eupraxia Pharmaceuticals (NASDAQ:EPRX)

Cantor Fitzgerald assumed coverage on shares of Eupraxia Pharmaceuticals (NASDAQ:EPRX - Free Report) in a research report released on Thursday, Marketbeat reports. The firm issued an overweight rating and a $11.00 price objective on the stock.

Other research analysts have also issued research reports about the company. Canaccord Genuity Group began coverage on Eupraxia Pharmaceuticals in a report on Monday, June 16th. They set a "speculative buy" rating for the company. HC Wainwright began coverage on Eupraxia Pharmaceuticals in a report on Thursday, June 26th. They set a "buy" rating and a $12.00 target price for the company. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $11.00.

Eupraxia Pharmaceuticals Stock Up 2.7%

Eupraxia Pharmaceuticals stock traded up $0.15 during midday trading on Thursday, reaching $5.64. The stock had a trading volume of 24,864 shares, compared to its average volume of 13,901. Eupraxia Pharmaceuticals has a 12 month low of $2.20 and a 12 month high of $6.20. The firm's 50-day moving average price is $4.63 and its 200 day moving average price is $3.89. The firm has a market capitalization of $202.67 million, a PE ratio of -7.42 and a beta of 1.55.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). Equities research analysts expect that Eupraxia Pharmaceuticals will post -0.67 EPS for the current year.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Millennium Management LLC bought a new stake in Eupraxia Pharmaceuticals in the 4th quarter worth approximately $31,000. Raymond James Financial Inc. bought a new stake in Eupraxia Pharmaceuticals in the 4th quarter worth approximately $37,000. Bank of Montreal Can lifted its position in Eupraxia Pharmaceuticals by 15.2% in the fourth quarter. Bank of Montreal Can now owns 56,750 shares of the company's stock valued at $178,000 after purchasing an additional 7,500 shares during the last quarter. Royal Bank of Canada lifted its position in Eupraxia Pharmaceuticals by 21.1% in the first quarter. Royal Bank of Canada now owns 342,828 shares of the company's stock valued at $1,125,000 after purchasing an additional 59,683 shares during the last quarter. Finally, Scotia Capital Inc. lifted its position in Eupraxia Pharmaceuticals by 11.6% in the first quarter. Scotia Capital Inc. now owns 1,552,679 shares of the company's stock valued at $5,072,000 after purchasing an additional 160,960 shares during the last quarter.

Eupraxia Pharmaceuticals Company Profile

Eupraxia Pharmaceuticals Inc is a clinical-stage biotechnology company. It focused on the development of locally delivered, extended-release products that have the potential to address therapeutic areas with high unmet medical need. Th company's lead product candidate includes EP-104IAR, for the treatment of pain due to osteoarthritis of the knee.