Eupraxia Pharmaceuticals (NASDAQ:EPRX) Announces Earnings Results

Eupraxia Pharmaceuticals (NASDAQ:EPRX) announced its quarterly earnings results on Tuesday. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04, Zacks reports.

Eupraxia Pharmaceuticals Trading Down 10.5%

Eupraxia Pharmaceuticals stock traded down $0.64 during trading hours on Tuesday, reaching $5.45. 37,903 shares of the stock were exchanged, compared to its average volume of 36,492. The company has a market cap of $195.98 million, a P/E ratio of -6.41 and a beta of 1.47. Eupraxia Pharmaceuticals has a twelve month low of $2.68 and a twelve month high of $7.19. The stock has a 50 day moving average of $5.67 and a two-hundred day moving average of $5.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in EPRX. Royal Bank of Canada lifted its holdings in shares of Eupraxia Pharmaceuticals by 21.1% in the first quarter. Royal Bank of Canada now owns 342,828 shares of the company’s stock worth $1,125,000 after acquiring an additional 59,683 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Eupraxia Pharmaceuticals by 593.2% in the second quarter. JPMorgan Chase & Co. now owns 18,717 shares of the company’s stock worth $108,000 after acquiring an additional 16,017 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in shares of Eupraxia Pharmaceuticals by 402.4% in the second quarter. Bank of America Corp DE now owns 12,559 shares of the company’s stock worth $72,000 after acquiring an additional 10,059 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on EPRX. Cantor Fitzgerald began coverage on shares of Eupraxia Pharmaceuticals in a research report on Thursday, July 24th. They issued an “overweight” rating and a $11.00 price objective on the stock. HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of Eupraxia Pharmaceuticals in a report on Wednesday, August 20th. Leede Financial upgraded shares of Eupraxia Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target 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.