Eupraxia Pharmaceuticals (NASDAQ:EPRX) Shares Down 2.5% – Here’s Why

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) dropped 2.5% during trading on Friday . The stock traded as low as $5.82 and last traded at $5.85. Approximately 47,972 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 200,551 shares. The stock had previously closed at $6.00.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EPRX shares. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of Eupraxia Pharmaceuticals in a report on Wednesday, August 20th. Cantor Fitzgerald started coverage on shares of Eupraxia Pharmaceuticals in a research note on Thursday, July 24th. They set an “overweight” rating and a $11.00 price objective for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a report on Saturday, September 27th. Finally, Canaccord Genuity Group assumed coverage on shares of Eupraxia Pharmaceuticals in a report on Monday, June 16th. They issued a “speculative buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.00.

Eupraxia Pharmaceuticals Stock Down 2.5%

The company’s 50-day moving average is $5.48 and its two-hundred day moving average is $4.59. The company has a market capitalization of $210.37 million, a P/E ratio of -6.88 and a beta of 1.51.

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). On average, sell-side analysts predict that Eupraxia Pharmaceuticals Inc. will post -0.67 EPS for the current year.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Millennium Management LLC bought a new stake in Eupraxia Pharmaceuticals during the fourth quarter worth about $31,000. Quadrature Capital Ltd purchased a new position in shares of Eupraxia Pharmaceuticals during the 2nd quarter valued at about $61,000. Bank of America Corp DE raised its holdings in shares of Eupraxia Pharmaceuticals by 402.4% during the 2nd quarter. Bank of America Corp DE now owns 12,559 shares of the company’s stock valued at $72,000 after buying an additional 10,059 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Eupraxia Pharmaceuticals by 593.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 18,717 shares of the company’s stock worth $108,000 after buying an additional 16,017 shares during the last quarter. Finally, Ingalls & Snyder LLC purchased a new stake in Eupraxia Pharmaceuticals in the second quarter worth approximately $214,000.

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.