HC Wainwright Begins Coverage on Eupraxia Pharmaceuticals (NASDAQ:EPRX)

Equities research analysts at HC Wainwright started coverage on shares of Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm set a "buy" rating and a $12.00 price target on the stock. HC Wainwright's price objective indicates a potential upside of 108.33% from the stock's current price.

Separately, Canaccord Genuity Group initiated coverage on Eupraxia Pharmaceuticals in a report on Monday, June 16th. They set a "speculative buy" rating on the stock. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Eupraxia Pharmaceuticals currently has an average rating of "Buy" and an average price target of $11.00.

Eupraxia Pharmaceuticals Trading Up 8.7%

NASDAQ:EPRX traded up $0.46 during midday trading on Thursday, hitting $5.76. 28,210 shares of the stock were exchanged, compared to its average volume of 13,199. Eupraxia Pharmaceuticals has a one year low of $2.20 and a one year high of $5.90. The company has a market capitalization of $207.13 million, a price-to-earnings ratio of -7.58 and a beta of 0.66. The business has a 50-day moving average price of $4.05 and a two-hundred day moving average price of $3.59.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Sell-side analysts forecast that Eupraxia Pharmaceuticals will post -0.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Scotia Capital Inc. grew its position 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 buying an additional 160,960 shares during the last quarter. Royal Bank of Canada grew its position in Eupraxia Pharmaceuticals by 21.1% in the first quarter. Royal Bank of Canada now owns 342,828 shares of the company's stock worth $1,125,000 after buying an additional 59,683 shares during the last quarter. Bank of Montreal Can grew its position in 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 buying an additional 7,500 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Eupraxia Pharmaceuticals in the fourth quarter worth approximately $37,000. Finally, Millennium Management LLC acquired a new position in Eupraxia Pharmaceuticals in the fourth quarter worth approximately $31,000.

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.