Weiss Ratings Reaffirms Sell (D-) Rating for Eupraxia Pharmaceuticals (NASDAQ:EPRX)

Key Points

• Weiss Ratings reaffirmed a "sell (D-)" rating for Eupraxia Pharmaceuticals, indicating concerns about the company's performance.
• Despite the sell rating, other analysts like Canaccord Genuity and Cantor Fitzgerald have issued ratings of "speculative buy" and "overweight," respectively, with target prices around $11.00 to $12.00.
• Eupraxia Pharmaceuticals recently reported a quarterly earnings loss of ($0.26) per share, missing the consensus estimate, and its stock is currently trading at $6.14.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report)'s stock had its "sell (d-)" rating reiterated by equities researchers at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

EPRX has been the subject of several other reports. Canaccord Genuity Group started coverage on shares of Eupraxia Pharmaceuticals in a research note on Monday, June 16th. They set a "speculative buy" rating for the company. Cantor Fitzgerald started coverage on shares of Eupraxia Pharmaceuticals in a research note on Thursday, July 24th. They set an "overweight" rating and a $11.00 price objective for the company. Finally, HC Wainwright reiterated a "buy" rating and set a $12.00 price objective on shares of Eupraxia Pharmaceuticals in a research note on Wednesday, August 20th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $11.00.

Eupraxia Pharmaceuticals Trading Up 2.0%

NASDAQ EPRX opened at $6.14 on Wednesday. The firm's fifty day simple moving average is $5.51 and its two-hundred day simple moving average is $4.63. Eupraxia Pharmaceuticals has a 12-month low of $2.20 and a 12-month high of $7.19. The firm has a market capitalization of $220.79 million, a P/E ratio of -7.22 and a beta of 1.51.

Eupraxia Pharmaceuticals (NASDAQ:EPRX - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.21) by ($0.05). As a group, sell-side analysts predict that Eupraxia Pharmaceuticals will post -0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Scotia Capital Inc. increased its holdings in Eupraxia Pharmaceuticals by 11.6% in the first quarter. Scotia Capital Inc. now owns 1,552,679 shares of the company's stock valued at $5,072,000 after buying an additional 160,960 shares in the last quarter. Royal Bank of Canada increased its holdings in Eupraxia Pharmaceuticals by 21.1% in the first quarter. Royal Bank of Canada now owns 342,828 shares of the company's stock valued at $1,125,000 after buying an additional 59,683 shares in the last quarter. Ingalls & Snyder LLC purchased a new position in Eupraxia Pharmaceuticals in the second quarter valued at $214,000. JPMorgan Chase & Co. increased its holdings in Eupraxia Pharmaceuticals by 593.2% in the second quarter. JPMorgan Chase & Co. now owns 18,717 shares of the company's stock valued at $108,000 after buying an additional 16,017 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Eupraxia Pharmaceuticals by 402.4% in the second quarter. Bank of America Corp DE now owns 12,559 shares of the company's stock valued at $72,000 after buying an additional 10,059 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.

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