Eupraxia Pharmaceuticals (NASDAQ:EPRX) Trading Down 2.3% - Time to Sell?

Shares of Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX - Get Free Report) fell 2.3% during mid-day trading on Tuesday . The stock traded as low as $4.88 and last traded at $5.07. 4,743 shares traded hands during mid-day trading, a decline of 65% from the average session volume of 13,505 shares. The stock had previously closed at $5.19.

Wall Street Analyst Weigh In

Several research firms recently issued reports on EPRX. Canaccord Genuity Group began coverage on Eupraxia Pharmaceuticals in a research report on Monday, June 16th. They issued a "speculative buy" rating on the stock. HC Wainwright began coverage on Eupraxia Pharmaceuticals in a research report on Thursday, June 26th. They issued a "buy" rating and a $12.00 price objective on the stock. Finally, Cantor Fitzgerald began coverage on Eupraxia Pharmaceuticals in a research report on Thursday. They issued an "overweight" rating and a $11.00 price objective on the stock. Five analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Eupraxia Pharmaceuticals presently has a consensus rating of "Buy" and a consensus target price of $11.00.

Eupraxia Pharmaceuticals Trading Down 0.9%

The firm has a market capitalization of $197.42 million, a PE ratio of -7.22 and a beta of 1.55. The business's 50 day simple moving average is $4.63 and its two-hundred day simple moving average is $3.89.

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 analysts' consensus estimates of ($0.19) by ($0.02). As a group, equities research analysts anticipate that Eupraxia Pharmaceuticals Inc. will post -0.67 earnings per share for the current year.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in EPRX. Scotia Capital Inc. increased its stake 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 worth $5,072,000 after purchasing an additional 160,960 shares in the last quarter. Royal Bank of Canada increased its stake in shares of Eupraxia Pharmaceuticals by 21.1% in 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Eupraxia Pharmaceuticals in the 4th quarter worth $37,000. Millennium Management LLC purchased a new stake in shares of Eupraxia Pharmaceuticals in the 4th quarter worth $31,000. Finally, Bank of Montreal Can increased its stake in shares of Eupraxia Pharmaceuticals by 15.2% in the 4th quarter. Bank of Montreal Can now owns 56,750 shares of the company's stock worth $178,000 after purchasing an additional 7,500 shares in 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.