Eupraxia Pharmaceuticals (NASDAQ:EPRX) Announces Earnings Results

Eupraxia Pharmaceuticals (NASDAQ:EPRX) announced its quarterly earnings data on Tuesday. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.04, Zacks reports.

Eupraxia Pharmaceuticals Stock Down 10.5%

NASDAQ EPRX traded down $0.64 during trading on Tuesday, reaching $5.45. 37,903 shares of the stock traded hands, compared to its average volume of 36,492. The firm has a market cap of $195.98 million, a price-to-earnings ratio of -6.41 and a beta of 1.47. The stock’s 50-day moving average price is $5.67 and its 200 day moving average price is $5.00. Eupraxia Pharmaceuticals has a fifty-two week low of $2.68 and a fifty-two week high of $7.19.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Royal Bank of Canada grew its holdings in Eupraxia Pharmaceuticals by 21.1% during the first 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 period. Bank of America Corp DE lifted its stake in Eupraxia Pharmaceuticals by 402.4% in the second 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. Finally, JPMorgan Chase & Co. lifted its stake in Eupraxia Pharmaceuticals by 593.2% in the second quarter. JPMorgan Chase & Co. now owns 18,717 shares of the company’s stock valued at $108,000 after buying an additional 16,017 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EPRX shares. Cantor Fitzgerald started coverage on shares of Eupraxia Pharmaceuticals in a research note on Thursday, July 24th. They issued an “overweight” rating and a $11.00 price objective on the stock. Leede Financial raised shares of Eupraxia Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, October 29th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Eupraxia Pharmaceuticals in a research note on Wednesday, August 20th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research note on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Eupraxia Pharmaceuticals has an average rating of “Buy” and an average target price of $11.00.

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.