Eupraxia Pharmaceuticals (NASDAQ:EPRX) Releases Earnings Results, Beats Estimates By $0.04 EPS

Eupraxia Pharmaceuticals (NASDAQ:EPRX) issued 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 Price Performance

Shares of NASDAQ:EPRX traded down $0.24 during mid-day trading on Thursday, reaching $5.44. 7,647 shares of the company traded hands, compared to its average volume of 38,444. Eupraxia Pharmaceuticals has a 52 week low of $2.68 and a 52 week high of $7.19. The firm has a market cap of $195.44 million, a PE ratio of -6.25 and a beta of 1.47. The company’s 50 day moving average price is $5.67 and its 200-day moving average price is $5.00.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Cantor Fitzgerald initiated coverage on shares of Eupraxia Pharmaceuticals in a research report on Thursday, July 24th. They issued an “overweight” rating and a $11.00 price target on the stock. Leede Financial upgraded shares of Eupraxia Pharmaceuticals to a “strong-buy” rating in a report on Wednesday, October 29th. HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of Eupraxia Pharmaceuticals in a research report on Wednesday, August 20th. 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 assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Eupraxia Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $11.00.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in EPRX. Bank of America Corp DE lifted its holdings in shares of Eupraxia Pharmaceuticals by 402.4% during the second quarter. Bank of America Corp DE now owns 12,559 shares of the company’s stock worth $72,000 after purchasing an additional 10,059 shares during the period. JPMorgan Chase & Co. lifted its stake in Eupraxia Pharmaceuticals by 593.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 18,717 shares of the company’s stock worth $108,000 after acquiring an additional 16,017 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings 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 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.