Eupraxia Pharmaceuticals (NASDAQ:EPRX) Issues Earnings Results, Misses Expectations By $0.05 EPS

Key Points

• Eupraxia Pharmaceuticals reported a quarterly EPS of (-0.26), missing analysts' expectations by $0.05.
• Shares of Eupraxia Pharmaceuticals traded at $5.38 with a market capitalization of $193.43 million after the earnings report.
• Multiple research firms have rated Eupraxia Pharmaceuticals as a "Buy" with an average target price of $11.00.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) released its quarterly earnings data on Tuesday. The company reported ($0.26) earnings per share for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.05), Zacks reports.

Eupraxia Pharmaceuticals Stock Performance

Shares of NASDAQ:EPRX traded up $0.04 on Friday, hitting $5.32. The stock had a trading volume of 2,219 shares, compared to its average volume of 11,037. Eupraxia Pharmaceuticals has a twelve month low of $2.20 and a twelve month high of $6.20. The firm's 50 day moving average price is $5.07 and its 200-day moving average price is $4.14. The company has a market capitalization of $191.31 million, a price-to-earnings ratio of -6.26 and a beta of 1.50.

Wall Street Analysts Forecast Growth

EPRX has been the topic of several research analyst reports. Canaccord Genuity Group began coverage on shares of Eupraxia Pharmaceuticals in a research note on Monday, June 16th. They set a "speculative buy" rating on the stock. HC Wainwright began coverage on shares of Eupraxia Pharmaceuticals in a research report on Thursday, June 26th. They set a "buy" rating and a $12.00 price objective for the company. Finally, Cantor Fitzgerald began coverage on shares of Eupraxia Pharmaceuticals in a research report on Thursday, July 24th. They set an "overweight" rating and a $11.00 price objective for the company. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $11.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in Eupraxia Pharmaceuticals by 21.1% during the 1st quarter. Royal Bank of Canada now owns 342,828 shares of the company's stock worth $1,125,000 after purchasing an additional 59,683 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Eupraxia Pharmaceuticals by 593.2% during the 2nd 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 period. Finally, Bank of America Corp DE grew its position in shares of 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.

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.