Eupraxia Pharmaceuticals (NASDAQ:EPRX) Coverage Initiated at Canaccord Genuity Group

Stock analysts at Canaccord Genuity Group initiated coverage on shares of Eupraxia Pharmaceuticals (NASDAQ:EPRX) in a research report issued to clients and investors on Monday. The firm set a “speculative buy” rating on the stock.

Separately, Craig Hallum started coverage on shares of Eupraxia Pharmaceuticals in a research report on Friday, February 21st. They set a “buy” rating and a $12.00 price objective for the company.

Eupraxia Pharmaceuticals Price Performance

EPRX stock traded up $0.05 during midday trading on Monday, reaching $3.93. 4,408 shares of the company were exchanged, compared to its average volume of 13,165. The business has a 50-day moving average price of $3.74 and a two-hundred day moving average price of $3.49. Eupraxia Pharmaceuticals has a one year low of $2.20 and a one year high of $4.48. The firm has a market capitalization of $141.31 million, a price-to-earnings ratio of -5.46 and a beta of 0.65.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last announced its earnings results on Tuesday, May 6th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.02). As a group, analysts anticipate that Eupraxia Pharmaceuticals will post -0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

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

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.