Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) Stake Boosted by Scotia Capital Inc.

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. raised its holdings in shares of Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX - Free Report) by 11.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,552,679 shares of the company's stock after purchasing an additional 160,960 shares during the quarter. Scotia Capital Inc. owned 4.33% of Eupraxia Pharmaceuticals worth $5,072,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of EPRX. Bank of Montreal Can boosted its stake in Eupraxia Pharmaceuticals by 15.2% during the 4th quarter. Bank of Montreal Can now owns 56,750 shares of the company's stock valued at $178,000 after acquiring an additional 7,500 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Eupraxia Pharmaceuticals during the fourth quarter valued at approximately $37,000. Finally, Millennium Management LLC acquired a new stake in Eupraxia Pharmaceuticals during the fourth quarter valued at approximately $31,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on EPRX shares. HC Wainwright assumed coverage on Eupraxia Pharmaceuticals in a report on Thursday, June 26th. They issued a "buy" rating and a $12.00 price target for the company. Cantor Fitzgerald initiated coverage on shares of Eupraxia Pharmaceuticals in a research report on Thursday, July 24th. They issued an "overweight" rating and a $11.00 price target on the stock. Finally, Canaccord Genuity Group initiated coverage on shares of Eupraxia Pharmaceuticals in a report on Monday, June 16th. They issued a "speculative buy" rating for the company. Five research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $11.00.

Eupraxia Pharmaceuticals Stock Down 3.0%

EPRX stock traded down $0.16 during mid-day trading on Friday, reaching $5.23. The company had a trading volume of 3,290 shares, compared to its average volume of 13,543. The stock has a market capitalization of $187.93 million, a P/E ratio of -6.88 and a beta of 1.50. The stock's 50-day simple moving average is $4.90 and its two-hundred day simple moving average is $4.03. Eupraxia Pharmaceuticals Inc. has a one year low of $2.20 and a one year high of $6.20.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last issued its quarterly earnings results 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). On average, research analysts forecast that Eupraxia Pharmaceuticals Inc. will post -0.67 EPS for the current fiscal year.

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.