Eupraxia Pharmaceuticals (NASDAQ:EPRX) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

Eupraxia Pharmaceuticals (NASDAQ:EPRX) released its quarterly earnings results on Tuesday. The company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.04, Zacks reports.

Eupraxia Pharmaceuticals Stock Performance

Eupraxia Pharmaceuticals stock traded down $0.64 during trading on Tuesday, reaching $5.45. 37,903 shares of the company were exchanged, compared to its average volume of 65,355. Eupraxia Pharmaceuticals has a 52-week low of $2.68 and a 52-week high of $7.19. The stock’s 50 day simple moving average is $5.67 and its two-hundred day simple moving average is $5.00.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada grew its holdings in shares of 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 purchasing an additional 59,683 shares during the last quarter. JPMorgan Chase & Co. grew its stake in 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 buying an additional 16,017 shares during the last quarter. Finally, Bank of America Corp DE grew its stake 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 worth $72,000 after buying an additional 10,059 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have weighed in on EPRX shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a research note on Wednesday, October 8th. Leede Financial upgraded Eupraxia Pharmaceuticals to a “strong-buy” rating in a research note on Wednesday, October 29th. HC Wainwright restated a “buy” rating and issued a $12.00 price objective on shares of Eupraxia Pharmaceuticals in a research report on Wednesday, August 20th. Finally, Cantor Fitzgerald assumed coverage on Eupraxia Pharmaceuticals in a research report on Thursday, July 24th. They issued an “overweight” rating and a $11.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target 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.