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

Canaccord Genuity Group assumed coverage on shares of Eupraxia Pharmaceuticals (NASDAQ:EPRX) in a research note published on Monday morning, Marketbeat.com reports. The brokerage issued a speculative buy rating on the stock.

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

Eupraxia Pharmaceuticals Stock Down 0.7%

Shares of NASDAQ:EPRX opened at $4.24 on Monday. The firm has a market capitalization of $152.47 million, a PE ratio of -5.58 and a beta of 0.65. The company has a 50-day moving average price of $3.82 and a two-hundred day moving average price of $3.51. Eupraxia Pharmaceuticals has a twelve month low of $2.20 and a twelve month high of $4.48.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Scotia Capital Inc. grew its stake in shares of Eupraxia Pharmaceuticals by 11.6% during the first quarter. Scotia Capital Inc. now owns 1,552,679 shares of the company’s stock valued at $5,072,000 after buying an additional 160,960 shares during the last quarter. Royal Bank of Canada boosted 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 valued at $1,125,000 after acquiring an additional 59,683 shares during the period. Raymond James Financial Inc. bought a new position in Eupraxia Pharmaceuticals during the 4th quarter worth approximately $37,000. Millennium Management LLC purchased a new position in shares of Eupraxia Pharmaceuticals in the fourth quarter worth $31,000. Finally, Bank of Montreal Can boosted its position in Eupraxia Pharmaceuticals by 15.2% during the 4th quarter. Bank of Montreal Can now owns 56,750 shares of the company’s stock valued at $178,000 after buying an additional 7,500 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.