Eupraxia Pharmaceuticals (NASDAQ:EPRX) Trading Down 1.7% – What’s Next?

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) dropped 1.7% during mid-day trading on Monday . The company traded as low as $4.18 and last traded at $4.08. Approximately 3,152 shares traded hands during trading, a decline of 81% from the average daily volume of 16,604 shares. The stock had previously closed at $4.15.

Wall Street Analyst Weigh In

Separately, Craig Hallum initiated coverage on Eupraxia Pharmaceuticals in a research note on Friday, February 21st. They set a “buy” rating and a $12.00 price target for the company.

Eupraxia Pharmaceuticals Stock Performance

The business has a 50 day simple moving average of $3.42 and a 200-day simple moving average of $3.07. The stock has a market capitalization of $145.40 million and a P/E ratio of -5.67.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. 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 purchasing an additional 7,500 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Eupraxia Pharmaceuticals during the 4th quarter worth $37,000. Finally, Millennium Management LLC bought a new stake in shares of Eupraxia Pharmaceuticals during the 4th quarter worth $31,000.

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.