Bank of America Corp DE Buys New Stake in Eupraxia Pharmaceuticals Inc. $EPRX

Key Points

• Bank of America acquired 264,721 Eupraxia Pharmaceuticals shares in the second quarter, worth approximately $1.75 million and representing about 0.41% of the company.
• Analyst sentiment is generally positive, with Eupraxia holding a consensus “Moderate Buy” rating and an average price target of $17.80; individual targets range from $11 to $25.
• Eupraxia shares opened at $7.83, while the company reported a quarterly loss of $0.23 per share—better than the expected $0.25 loss. The clinical-stage biotechnology company is developing locally administered therapies, including its lead osteoarthritis treatment candidate EP-104I.

Bank of America Corp DE purchased a new stake in Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 264,721 shares of the company's stock, valued at approximately $1,750,000. Bank of America Corp DE owned approximately 0.41% of Eupraxia Pharmaceuticals at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Persistent Asset Partners Ltd acquired a new position in Eupraxia Pharmaceuticals during the second quarter worth $25,000. BlackRock Inc. acquired a new position in Eupraxia Pharmaceuticals in the second quarter valued at about $40,000. Cibc World Market Inc. acquired a new position in Eupraxia Pharmaceuticals in the second quarter valued at about $1,539,000. Royal Bank of Canada grew its stake in Eupraxia Pharmaceuticals by 33.2% during the first quarter. Royal Bank of Canada now owns 261,376 shares of the company's stock worth $1,893,000 after buying an additional 65,099 shares during the last quarter. Finally, DV Trading LLC bought a new stake in Eupraxia Pharmaceuticals during the first quarter worth about $1,998,000.

Wall Street Analyst Weigh In

EPRX has been the subject of several recent analyst reports. Stifel Nicolaus set a $25.00 price objective on shares of Eupraxia Pharmaceuticals in a report on Thursday, September 24th. Cantor Fitzgerald restated an "overweight" rating on shares of Eupraxia Pharmaceuticals in a research report on Wednesday, July 15th. HC Wainwright restated a "buy" rating and set a $11.00 price target on shares of Eupraxia Pharmaceuticals in a research report on Thursday. Wall Street Zen raised Eupraxia Pharmaceuticals from a "strong sell" rating to a "sell" rating in a report on Saturday, September 12th. Finally, Wedbush assumed coverage on Eupraxia Pharmaceuticals in a research report on Thursday, September 24th. They issued an "outperform" rating and a $17.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Eupraxia Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus price target of $17.80.

Eupraxia Pharmaceuticals Stock Performance

Shares of Eupraxia Pharmaceuticals stock opened at $7.83 on Friday. The firm has a fifty day moving average of $7.34 and a two-hundred day moving average of $7.02. The stock has a market capitalization of $509.11 million, a price-to-earnings ratio of -7.68 and a beta of 0.82. Eupraxia Pharmaceuticals Inc. has a 52 week low of $5.25 and a 52 week high of $9.32. The company has a debt-to-equity ratio of 0.02, a quick ratio of 16.00 and a current ratio of 16.00.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.23) earnings per share for the quarter, beating analysts' consensus estimates of ($0.25) by $0.02. As a group, equities research analysts predict that Eupraxia Pharmaceuticals Inc. will post -0.85 EPS for the current year.

Eupraxia Pharmaceuticals Profile

Eupraxia Pharmaceuticals Inc NASDAQ: EPRX is a clinical-stage biotechnology company based in Canada. The company develops locally administered therapies intended to treat inflammatory, fibrotic and other diseases while limiting patients' exposure to medication throughout the body.

Eupraxia's development programs are built around its proprietary Diffusion Driven Drug Delivery (3D) platform. The technology is designed to provide controlled, sustained release of pharmaceutical compounds at targeted sites, potentially extending treatment effects and reducing systemic side effects.

The company's lead product candidate, EP-104I, is an extended-release formulation of fluticasone propionate being developed for intra-articular administration in patients with osteoarthritis of the knee.

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