Leede Financial Upgrades Eupraxia Pharmaceuticals (NASDAQ:EPRX) to Strong-Buy

Eupraxia Pharmaceuticals (NASDAQ:EPRX) was upgraded by analysts at Leede Financial to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also weighed in on EPRX. Cantor Fitzgerald started coverage on shares of Eupraxia Pharmaceuticals in a report on Thursday, July 24th. They set an “overweight” rating and a $11.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Eupraxia Pharmaceuticals in a report on Wednesday, October 8th. Finally, 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. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Eupraxia Pharmaceuticals currently has a consensus rating of “Buy” and an average price target of $11.00.

Eupraxia Pharmaceuticals Price Performance

NASDAQ:EPRX opened at $5.33 on Wednesday. The firm has a market cap of $191.67 million, a price-to-earnings ratio of -6.27 and a beta of 1.51. The company has a 50 day moving average price of $5.64 and a 200-day moving average price of $4.92. Eupraxia Pharmaceuticals has a 1-year low of $2.50 and a 1-year high of $7.19.

Eupraxia Pharmaceuticals (NASDAQ:EPRX) last posted its earnings results on Tuesday, August 12th. The company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.21) by ($0.05). On average, sell-side analysts anticipate that Eupraxia Pharmaceuticals will post -0.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Eupraxia Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in EPRX. Bank of America Corp DE grew its holdings in shares of Eupraxia Pharmaceuticals by 402.4% during the second 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 in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Eupraxia Pharmaceuticals during the second quarter worth $61,000. TCI Wealth Advisors Inc. purchased a new stake in shares of Eupraxia Pharmaceuticals during the third quarter worth $65,000. JPMorgan Chase & Co. grew its holdings in shares of Eupraxia Pharmaceuticals by 593.2% during the second quarter. JPMorgan Chase & Co. now owns 18,717 shares of the company’s stock worth $108,000 after buying an additional 16,017 shares in the last quarter. Finally, Ingalls & Snyder LLC purchased a new stake in shares of Eupraxia Pharmaceuticals during the second quarter worth $214,000.

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.