Scotia Capital Inc. Boosts Stock Holdings in Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX)

Key Points

• Scotia Capital Inc. increased its stake in Eupraxia Pharmaceuticals by 11.6% during the first quarter, owning approximately 1,552,679 shares valued at around $5.07 million.
• Eupraxia Pharmaceuticals' stock has a 52-week range with a low of $2.20 and a high of $6.20, currently trading at around $5.37.
• Five analysts have rated the stock as a Buy, with an average target price of $11.00, indicating positive market expectations for the company.

Scotia Capital Inc. lifted its stake in Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX - Free Report) by 11.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,552,679 shares of the company's stock after buying an additional 160,960 shares during the period. Scotia Capital Inc. owned approximately 4.33% of Eupraxia Pharmaceuticals worth $5,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of EPRX. Raymond James Financial Inc. purchased a new stake in shares of Eupraxia Pharmaceuticals during the fourth quarter valued at approximately $37,000. Millennium Management LLC purchased a new stake in shares of Eupraxia Pharmaceuticals during the fourth quarter worth about $31,000. Finally, Bank of Montreal Can grew its position 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 buying an additional 7,500 shares during the last quarter.

Eupraxia Pharmaceuticals Stock Performance

EPRX stock opened at $5.37 on Tuesday. The firm has a 50 day moving average price of $4.79 and a 200-day moving average price of $3.98. Eupraxia Pharmaceuticals Inc. has a 52-week low of $2.20 and a 52-week high of $6.20. The firm has a market capitalization of $192.93 million, a price-to-earnings ratio of -7.06 and a beta of 1.50.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.02). As a group, sell-side analysts forecast that Eupraxia Pharmaceuticals Inc. will post -0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

EPRX has been the subject of a number of research analyst reports. HC Wainwright started coverage on Eupraxia Pharmaceuticals in a research note on Thursday, June 26th. They issued a "buy" rating and a $12.00 price target for the company. Cantor Fitzgerald started coverage on shares of Eupraxia Pharmaceuticals in a research report on Thursday, July 24th. They issued an "overweight" rating and a $11.00 target price for the company. Finally, Canaccord Genuity Group began coverage on shares of Eupraxia Pharmaceuticals in a research report on Monday, June 16th. They set a "speculative buy" rating on the stock. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Eupraxia Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $11.00.

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.

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