Analysts Set Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) Price Target at $11.00

Shares of Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) have been assigned a consensus recommendation of “Buy” from the six analysts that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $11.00.

EPRX has been the topic of several analyst reports. Cantor Fitzgerald initiated coverage on Eupraxia Pharmaceuticals in a research report on Thursday, July 24th. They set an “overweight” rating and a $11.00 target price on the stock. Canaccord Genuity Group started coverage on Eupraxia Pharmaceuticals in a research report on Monday, June 16th. They issued a “speculative buy” rating on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Eupraxia Pharmaceuticals in a research report on Wednesday.

Eupraxia Pharmaceuticals Stock Up 1.5%

Shares of NASDAQ:EPRX opened at $5.28 on Monday. The stock has a market cap of $189.87 million, a price-to-earnings ratio of -6.21 and a beta of 1.50. Eupraxia Pharmaceuticals has a 12-month low of $2.20 and a 12-month high of $6.20. The business’s 50 day moving average is $5.21 and its 200 day moving average is $4.20.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last announced its 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, equities research analysts expect that Eupraxia Pharmaceuticals will post -0.67 earnings per share for the current year.

Institutional Trading of Eupraxia Pharmaceuticals

Several hedge funds have recently made changes to their positions in EPRX. Bank of Montreal Can raised its stake in shares of Eupraxia Pharmaceuticals by 15.2% in the fourth quarter. Bank of Montreal Can now owns 56,750 shares of the company’s stock valued at $178,000 after buying an additional 7,500 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Eupraxia Pharmaceuticals in the fourth quarter valued at $37,000. Millennium Management LLC bought a new stake in shares of Eupraxia Pharmaceuticals in the fourth quarter valued at $31,000. Scotia Capital Inc. raised its stake in shares of 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 during the period. Finally, Royal Bank of Canada raised its stake 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 valued at $1,125,000 after buying an additional 59,683 shares during the period.

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.