Canaccord Genuity Group Initiates Coverage on Eupraxia Pharmaceuticals (NASDAQ:EPRX)

Stock analysts at Canaccord Genuity Group began coverage on shares of Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) in a research note issued to investors on Monday, Marketbeat reports. The brokerage set a "speculative buy" rating on the stock.

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

Eupraxia Pharmaceuticals Stock Down 0.7%

Shares of EPRX stock traded down $0.03 during mid-day trading on Monday, hitting $4.24. 4,922 shares of the stock traded hands, compared to its average volume of 13,262. Eupraxia Pharmaceuticals has a twelve month low of $2.20 and a twelve month high of $4.48. The company's 50-day simple moving average is $3.82 and its 200-day simple moving average is $3.51.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.21) earnings per share for the quarter, missing the consensus estimate 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

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Raymond James Financial Inc. acquired a new stake in Eupraxia Pharmaceuticals during the 4th quarter worth about $37,000. Millennium Management LLC purchased a new position in shares of Eupraxia Pharmaceuticals in the fourth quarter worth approximately $31,000. Bank of Montreal Can increased its position 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 worth $178,000 after acquiring an additional 7,500 shares in the last quarter. Royal Bank of Canada raised its holdings 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 valued at $1,125,000 after acquiring an additional 59,683 shares during the period. Finally, Scotia Capital Inc. lifted its position in shares of Eupraxia Pharmaceuticals by 11.6% in the 1st quarter. Scotia Capital Inc. now owns 1,552,679 shares of the company's stock valued at $5,072,000 after acquiring an additional 160,960 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.