Short Interest in Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) Declines By 6.0%

Eupraxia Pharmaceuticals Inc. (NASDAQ:EPRX) was the recipient of a significant drop in short interest in January. As of January 31st, there was short interest totalling 139,100 shares, a drop of 6.0% from the January 15th total of 148,000 shares. Approximately 0.5% of the company’s stock are sold short. Based on an average trading volume of 13,200 shares, the days-to-cover ratio is currently 10.5 days.

Wall Street Analysts Forecast Growth

EPRX has been the topic of several recent research reports. Rodman & Renshaw initiated coverage on shares of Eupraxia Pharmaceuticals in a research report on Thursday, November 14th. They set a “buy” rating and a $9.00 price objective on the stock. RODMAN&RENSHAW raised shares of Eupraxia Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, November 14th.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

A number of institutional investors have recently modified their holdings of the company. Bank of Montreal Can raised its position in shares of Eupraxia Pharmaceuticals by 15.2% in the fourth quarter. Bank of Montreal Can now owns 56,750 shares of the company’s stock valued at $178,000 after purchasing an additional 7,500 shares during the period. Raymond James Financial Inc. bought a new position in shares of Eupraxia Pharmaceuticals in the fourth quarter valued at approximately $37,000. Finally, Millennium Management LLC bought a new position in shares of Eupraxia Pharmaceuticals in the fourth quarter valued at approximately $31,000.

Eupraxia Pharmaceuticals Stock Performance

Shares of EPRX opened at $3.36 on Thursday. The firm has a market cap of $119.78 million and a PE ratio of -4.67. The firm’s 50 day moving average price is $3.12 and its 200 day moving average price is $2.90. Eupraxia Pharmaceuticals has a twelve month low of $2.20 and a twelve month high of $5.33.

Eupraxia Pharmaceuticals Company Profile

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.