Eupraxia Pharmaceuticals (NASDAQ:EPRX) Now Covered by Analysts at Canaccord Genuity Group

Research analysts at Canaccord Genuity Group initiated coverage on shares of Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) in a report issued on Monday. The firm set a "speculative buy" rating on the stock.

Separately, Craig Hallum began coverage on shares of Eupraxia Pharmaceuticals in a research note on Friday, February 21st. They issued a "buy" rating and a $12.00 price target for the company.

Eupraxia Pharmaceuticals Stock Performance

NASDAQ EPRX traded up $0.05 during trading hours on Monday, reaching $3.93. The company's stock had a trading volume of 4,408 shares, compared to its average volume of 13,165. The stock has a market cap of $141.31 million, a PE ratio of -5.46 and a beta of 0.65. Eupraxia Pharmaceuticals has a fifty-two week low of $2.20 and a fifty-two week high of $4.48. The company's 50-day moving average is $3.74 and its two-hundred day moving average is $3.49.

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

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the company. Scotia Capital Inc. lifted its holdings in Eupraxia Pharmaceuticals by 11.6% in the first quarter. Scotia Capital Inc. now owns 1,552,679 shares of the company's stock worth $5,072,000 after purchasing an additional 160,960 shares during the period. Royal Bank of Canada boosted its position in 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 purchasing an additional 59,683 shares during the period. Raymond James Financial Inc. bought a new stake in Eupraxia Pharmaceuticals during the fourth quarter worth approximately $37,000. Millennium Management LLC bought a new stake in shares of Eupraxia Pharmaceuticals in the fourth quarter valued at approximately $31,000. Finally, Bank of Montreal Can raised its stake in shares of 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 in 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.

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