Eupraxia Pharmaceuticals' (EPRX) "Buy" Rating Reaffirmed at HC Wainwright

Key Points

• HC Wainwright has reaffirmed a "buy" rating for Eupraxia Pharmaceuticals (NASDAQ:EPRX), setting a price target of $12.00, which indicates a potential upside of 123.05% from the last close.
• Other analysts have issued ratings, with Cantor Fitzgerald rating it "overweight" with a target of $11.00, while the average consensus rating remains at "Buy."
• The company's stock is currently priced at $5.38, with a market cap of $193.46 million, and it recently reported a loss of ($0.26) EPS for the previous quarter.

HC Wainwright reiterated their buy rating on shares of Eupraxia Pharmaceuticals (NASDAQ:EPRX - Free Report) in a research note released on Wednesday,Benzinga reports. HC Wainwright currently has a $12.00 target price on the stock.

Several other equities analysts also recently issued reports on EPRX. Canaccord Genuity Group initiated coverage on shares of Eupraxia Pharmaceuticals in a report on Monday, June 16th. They set a "speculative buy" rating for the company. Cantor Fitzgerald initiated coverage on shares of Eupraxia Pharmaceuticals in a research note on Thursday, July 24th. They issued an "overweight" rating and a $11.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating and five have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $11.00.

Eupraxia Pharmaceuticals Trading Down 1.8%

EPRX stock traded down $0.0950 during trading on Wednesday, hitting $5.1850. 5,348 shares of the stock traded hands, compared to its average volume of 13,249. Eupraxia Pharmaceuticals has a one year low of $2.20 and a one year high of $6.20. The stock has a market cap of $186.45 million, a price-to-earnings ratio of -6.10 and a beta of 1.50. The company has a 50 day simple moving average of $5.21 and a 200 day simple moving average of $4.22.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.05). As a group, analysts predict 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 have recently modified their holdings of the stock. Scotia Capital Inc. raised its stake in shares of Eupraxia Pharmaceuticals by 11.6% during the first quarter. Scotia Capital Inc. now owns 1,552,679 shares of the company's stock worth $5,072,000 after buying an additional 160,960 shares during the last quarter. Royal Bank of Canada raised its stake in shares of Eupraxia Pharmaceuticals by 21.1% during the first quarter. Royal Bank of Canada now owns 342,828 shares of the company's stock worth $1,125,000 after buying an additional 59,683 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Eupraxia Pharmaceuticals by 15.2% during the fourth quarter. Bank of Montreal Can now owns 56,750 shares of the company's stock worth $178,000 after buying an additional 7,500 shares during the last quarter. Ingalls & Snyder LLC bought a new stake in shares of Eupraxia Pharmaceuticals during the second quarter worth approximately $214,000. Finally, JPMorgan Chase & Co. raised its stake 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 buying an additional 16,017 shares during the last quarter.

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.