Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) has received an average consensus rating of "Buy" from six brokerages, with five analysts recommending a buy and one a strong buy, setting their target price at around $11.00.
• Recent trading activity indicates increased institutional investment, with Scotia Capital Inc. increasing their holdings by 11.6% and Royal Bank of Canada by 21.1% in the first quarter.
• Eupraxia Pharmaceuticals reported a quarterly EPS of ($0.26), which missed analysts' expectations of ($0.21), with forecasts predicting an annual EPS of (-0.67) for the current year.

Shares of Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX - Get Free Report) have earned a consensus recommendation of "Buy" from the six ratings firms that are presently covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $11.00.

Several analysts recently weighed in on the company. Canaccord Genuity Group began coverage on Eupraxia Pharmaceuticals in a research report on Monday, June 16th. They set a "speculative buy" rating for the company. Cantor Fitzgerald initiated coverage on Eupraxia Pharmaceuticals in a report on Thursday, July 24th. They set an "overweight" rating and a $11.00 target price on the stock. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $12.00 price objective on shares of Eupraxia Pharmaceuticals in a research note on Wednesday, August 20th.

Eupraxia Pharmaceuticals Price Performance

NASDAQ:EPRX traded up $0.05 during trading hours on Friday, reaching $5.35. 3,518 shares of the company were exchanged, compared to its average volume of 12,380. Eupraxia Pharmaceuticals has a 1-year low of $2.20 and a 1-year high of $6.20. The company has a market capitalization of $192.21 million, a P/E ratio of -6.29 and a beta of 1.49. The business has a 50 day moving average of $5.35 and a 200 day moving average of $4.42.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last posted its quarterly earnings data on Tuesday, August 12th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.05). As a group, equities research analysts anticipate that Eupraxia Pharmaceuticals will post -0.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of EPRX. Millennium Management LLC acquired a new stake in shares of Eupraxia Pharmaceuticals during the 4th quarter worth approximately $31,000. Raymond James Financial Inc. acquired a new stake in Eupraxia Pharmaceuticals in the fourth quarter worth $37,000. Quadrature Capital Ltd bought a new stake in Eupraxia Pharmaceuticals in the second quarter valued at $61,000. Bank of America Corp DE raised its stake in Eupraxia Pharmaceuticals by 402.4% during the 2nd quarter. Bank of America Corp DE now owns 12,559 shares of the company's stock worth $72,000 after buying an additional 10,059 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Eupraxia Pharmaceuticals by 593.2% during the second quarter. JPMorgan Chase & Co. now owns 18,717 shares of the company's stock worth $108,000 after purchasing an additional 16,017 shares during the period.

About Eupraxia Pharmaceuticals

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.