Eupraxia Pharmaceuticals (NASDAQ:EPRX) Stock Price Down 3.8% – Here’s Why

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) shares dropped 3.8% during mid-day trading on Thursday . The stock traded as low as $8.34 and last traded at $8.46. Approximately 164,719 shares traded hands during mid-day trading, a decline of 17% from the average daily volume of 199,380 shares. The stock had previously closed at $8.79.

Wall Street Analyst Weigh In

EPRX has been the topic of a number of recent research reports. Lifesci Capital raised Eupraxia Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, December 11th. Cantor Fitzgerald raised their price target on shares of Eupraxia Pharmaceuticals from $11.00 to $19.00 and gave the stock an “overweight” rating in a research note on Thursday, January 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research report on Thursday, January 22nd. Wall Street Zen raised shares of Eupraxia Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Saturday, December 13th. Finally, Leede Financial raised shares of Eupraxia Pharmaceuticals to a “strong-buy” rating in a research report on Wednesday, October 29th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $14.33.

Eupraxia Pharmaceuticals Stock Performance

The firm has a fifty day moving average price of $7.53 and a 200 day moving average price of $6.31. The company has a market cap of $304.23 million, a price-to-earnings ratio of -9.72 and a beta of 1.20.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.04. On average, analysts expect that Eupraxia Pharmaceuticals Inc. will post -0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Royal Bank of Canada increased its position in Eupraxia Pharmaceuticals by 21.1% during the first quarter. Royal Bank of Canada now owns 342,828 shares of the company’s stock worth $1,125,000 after buying an additional 59,683 shares during the last quarter. Ingalls & Snyder LLC bought a new position in shares of Eupraxia Pharmaceuticals during the 2nd quarter worth approximately $214,000. JPMorgan Chase & Co. increased its holdings in shares of 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 during the last quarter. Quadrature Capital Ltd bought a new stake in Eupraxia Pharmaceuticals in the 2nd quarter valued at $61,000. Finally, Bank of America Corp DE lifted its holdings in 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 purchasing an additional 10,059 shares during the last quarter.

About Eupraxia Pharmaceuticals

Eupraxia Pharmaceuticals, Inc (NASDAQ: EPRX) is a clinical-stage biotechnology company dedicated to the discovery and development of novel therapies for autoimmune and inflammatory diseases. The company’s core strategy centers on selectively expanding regulatory T cells (Tregs)—immune cells responsible for maintaining self-tolerance and limiting pathological inflammation—through its proprietary platform. Its lead therapeutic candidate is currently in Phase 1 clinical development in patients with systemic lupus erythematosus.

Based in Seattle, Washington, Eupraxia Pharmaceuticals conducts research and development activities across North America, collaborating with academic institutions and contract research organizations to advance its pipeline.