Eupraxia Pharmaceuticals (NASDAQ:EPRX) Earns Buy Rating from Analysts at HC Wainwright

Analysts at HC Wainwright began coverage on shares of Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) in a research note issued on Thursday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $12.00 price target on the stock. HC Wainwright's target price indicates a potential upside of 159.74% from the stock's current price.

Separately, Canaccord Genuity Group initiated coverage on Eupraxia Pharmaceuticals in a report on Monday, June 16th. They issued a "speculative buy" rating for the company. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $11.00.

Eupraxia Pharmaceuticals Trading Up 7.2%

NASDAQ:EPRX opened at $4.62 on Thursday. The firm has a market cap of $166.14 million, a price-to-earnings ratio of -6.08 and a beta of 0.65. Eupraxia Pharmaceuticals has a 12-month low of $2.20 and a 12-month high of $4.68. The company's 50-day moving average is $3.96 and its two-hundred day moving average is $3.55.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last released 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). On average, equities research analysts forecast that Eupraxia Pharmaceuticals will post -0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in EPRX. Millennium Management LLC acquired a new position in shares of Eupraxia Pharmaceuticals in the 4th quarter valued at about $31,000. Raymond James Financial Inc. acquired a new position in Eupraxia Pharmaceuticals during the fourth quarter valued at approximately $37,000. Bank of Montreal Can grew its stake in Eupraxia Pharmaceuticals by 15.2% during 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 period. Royal Bank of Canada grew its stake in Eupraxia Pharmaceuticals by 21.1% during 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 period. Finally, Scotia Capital Inc. increased its position in shares of 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 acquiring an additional 160,960 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.