Eupraxia Pharmaceuticals (NASDAQ:EPRX) Trading Down 0% - Here's What Happened

Key Points

• Eupraxia Pharmaceuticals (NASDAQ:EPRX) shares are currently down 0%, trading at $5.27, with a significant drop in trading volume by 55% compared to its average.
• Analysts maintain a positive outlook on Eupraxia with a consensus price target of $11.00 and multiple ratings of "buy" or better from different equity research firms.
• The company's recent earnings report showed a loss of ($0.26) per share, which was worse than the consensus estimate of ($0.21), highlighting ongoing financial challenges.

Shares of Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX - Get Free Report) were down 0% during trading on Tuesday . The company traded as low as $5.15 and last traded at $5.27. Approximately 5,481 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 12,228 shares. The stock had previously closed at $5.27.

Analyst Ratings Changes

EPRX has been the subject of several research analyst reports. HC Wainwright reissued a "buy" rating and set a $12.00 target price on shares of Eupraxia Pharmaceuticals in a research note on Wednesday, August 20th. Cantor Fitzgerald assumed coverage on Eupraxia Pharmaceuticals in a report on Thursday, July 24th. They issued an "overweight" rating and a $11.00 target price on the stock. Finally, Canaccord Genuity Group assumed coverage on Eupraxia Pharmaceuticals in a report on Monday, June 16th. They issued a "speculative buy" rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating and five have given a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $11.00.

Eupraxia Pharmaceuticals Price Performance

The firm has a market capitalization of $190.59 million, a PE ratio of -6.24 and a beta of 1.50. The firm's fifty day moving average is $5.35 and its two-hundred day moving average is $4.42.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last posted 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). As a group, equities research analysts predict that Eupraxia Pharmaceuticals Inc. will post -0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

Large investors have recently modified their holdings of the stock. Millennium Management LLC purchased a new stake in Eupraxia Pharmaceuticals in the 4th quarter worth about $31,000. Quadrature Capital Ltd purchased a new stake in Eupraxia Pharmaceuticals in the 2nd quarter worth about $61,000. Bank of America Corp DE grew its holdings in Eupraxia Pharmaceuticals by 402.4% during 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. increased its position in shares of Eupraxia Pharmaceuticals by 593.2% during the second quarter. JPMorgan Chase & Co. now owns 18,717 shares of the company's stock valued at $108,000 after buying an additional 16,017 shares during the period. Finally, Ingalls & Snyder LLC purchased a new stake in shares of Eupraxia Pharmaceuticals in the second quarter worth about $214,000.

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.