Eupraxia Pharmaceuticals (NASDAQ:EPRX) Rating Increased to Strong-Buy at HC Wainwright

Eupraxia Pharmaceuticals (NASDAQ:EPRX) was upgraded by equities researchers at HC Wainwright to a “strong-buy” rating in a research report issued on Thursday,Zacks.com reports.

Separately, Canaccord Genuity Group started coverage on Eupraxia Pharmaceuticals in a report on Monday, June 16th. They set a “speculative buy” rating for the company. Three investment analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Eupraxia Pharmaceuticals has an average rating of “Buy” and a consensus price target of $11.00.

Eupraxia Pharmaceuticals Stock Performance

NASDAQ:EPRX opened at $4.62 on Thursday. Eupraxia Pharmaceuticals has a fifty-two week low of $2.20 and a fifty-two week high of $4.68. The company has a 50 day moving average price of $3.96 and a 200 day moving average price of $3.55. The stock has a market capitalization of $166.14 million, a P/E ratio of -6.08 and a beta of 0.65.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last released its quarterly earnings results on Tuesday, May 6th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.02). Research analysts forecast that Eupraxia Pharmaceuticals will post -0.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of Montreal Can increased its position in shares of Eupraxia Pharmaceuticals by 15.2% during the fourth quarter. Bank of Montreal Can now owns 56,750 shares of the company’s stock worth $178,000 after acquiring an additional 7,500 shares during the period. Millennium Management LLC purchased a new position in Eupraxia Pharmaceuticals in the fourth quarter valued at $31,000. Raymond James Financial Inc. acquired a new position in Eupraxia Pharmaceuticals during the 4th quarter worth $37,000. Royal Bank of Canada grew its stake in Eupraxia Pharmaceuticals by 21.1% during the 1st quarter. Royal Bank of Canada now owns 342,828 shares of the company’s stock worth $1,125,000 after purchasing an additional 59,683 shares in the last quarter. Finally, Scotia Capital Inc. increased its holdings in Eupraxia Pharmaceuticals by 11.6% during the 1st quarter. Scotia Capital Inc. now owns 1,552,679 shares of the company’s stock worth $5,072,000 after purchasing an additional 160,960 shares during the period.

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.