Eupraxia Pharmaceuticals (NASDAQ:EPRX) Shares Down 2.5% - What's Next?

Key Points

• Eupraxia Pharmaceuticals shares declined by 2.5% to $5.85 during midday trading, with a substantial drop in trading volume.
• Analysts have mixed ratings for EPRX, with a consensus target price of $11.00 and ratings ranging from "Strong Buy" to "Sell."
• The company reported a quarterly loss of ($0.26) earnings per share, missing analysts' expectations, as it continues to develop treatments for high unmet medical needs.

Shares of Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX - Get Free Report) were down 2.5% during mid-day trading on Friday . The company traded as low as $5.82 and last traded at $5.85. Approximately 47,972 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 200,551 shares. The stock had previously closed at $6.00.

Analysts Set New Price Targets

Several equities research analysts have commented on EPRX shares. Canaccord Genuity Group initiated coverage on shares of Eupraxia Pharmaceuticals in a research note on Monday, June 16th. They issued a "speculative buy" rating for the company. Cantor Fitzgerald started coverage on Eupraxia Pharmaceuticals in a report on Thursday, July 24th. They issued an "overweight" rating and a $11.00 target price for the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of Eupraxia Pharmaceuticals in a report on Saturday, September 27th. Finally, HC Wainwright reissued a "buy" rating and issued a $12.00 price objective on shares of Eupraxia Pharmaceuticals in a research report on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $11.00.

Eupraxia Pharmaceuticals Stock Performance

The company has a market cap of $210.37 million, a PE ratio of -6.88 and a beta of 1.51. The company's 50 day moving average price is $5.48 and its 200-day moving average price is $4.59.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last announced its quarterly earnings data 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). Equities research analysts expect that Eupraxia Pharmaceuticals Inc. will post -0.67 EPS for the current year.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

Several institutional investors have recently added to or reduced their stakes in EPRX. Millennium Management LLC purchased a new position in shares of Eupraxia Pharmaceuticals in the fourth quarter worth about $31,000. Quadrature Capital Ltd bought a new position in Eupraxia Pharmaceuticals in the 2nd quarter worth approximately $61,000. Bank of America Corp DE grew 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. JPMorgan Chase & Co. raised its holdings in Eupraxia Pharmaceuticals by 593.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 18,717 shares of the company's stock valued at $108,000 after acquiring an additional 16,017 shares during the period. Finally, Ingalls & Snyder LLC bought a new stake in Eupraxia Pharmaceuticals during the 2nd quarter valued at $214,000.

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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