Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) Receives Consensus Recommendation of "Buy" from Brokerages

Key Points

• Eupraxia Pharmaceuticals Inc. has received a consensus recommendation of "Buy" from six brokerages, with five analysts rating it as a buy and one as a strong buy.
• The average 12-month price target among analysts for Eupraxia Pharmaceuticals is $11.00, with some analysts issuing price objectives as high as $12.00.
• Institutional investors have increased their stakes in Eupraxia Pharmaceuticals, with notable increases from Bank of America and JPMorgan Chase, reflecting growing confidence in the company's potential.

Shares of Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX - Get Free Report) have earned an average recommendation of "Buy" from the six brokerages that are covering the firm, Marketbeat Ratings reports. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $11.00.

A number of analysts have issued reports on the company. Canaccord Genuity Group assumed coverage on Eupraxia Pharmaceuticals in a research report on Monday, June 16th. They issued a "speculative buy" rating on the stock. HC Wainwright started coverage on Eupraxia Pharmaceuticals in a research note on Thursday, June 26th. They issued a "buy" rating and a $12.00 price objective for the company. Finally, Cantor Fitzgerald started coverage on Eupraxia Pharmaceuticals in a research note on Thursday, July 24th. They issued an "overweight" rating and a $11.00 price objective for the company.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

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

Eupraxia Pharmaceuticals Trading Up 0.8%

EPRX stock opened at $5.32 on Monday. Eupraxia Pharmaceuticals has a 12-month low of $2.20 and a 12-month high of $6.20. The stock has a market cap of $191.31 million, a price-to-earnings ratio of -6.26 and a beta of 1.50. The business's 50-day moving average is $5.07 and its 200 day moving average is $4.14.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last issued its earnings results 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 analysts forecast that Eupraxia Pharmaceuticals will post -0.67 EPS for the current fiscal year.

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.

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