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

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

Eupraxia Pharmaceuticals Price Performance

EPRX stock opened at $3.33 on Wednesday. Eupraxia Pharmaceuticals has a 52-week low of $2.20 and a 52-week high of $5.33. The company’s 50-day simple moving average is $3.12 and its 200-day simple moving average is $2.89.

Hedge Funds Weigh In On Eupraxia Pharmaceuticals

Large investors have recently bought and sold shares of the business. Bank of Montreal Can increased 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 buying an additional 7,500 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Eupraxia Pharmaceuticals in the 4th quarter worth $37,000. Finally, Millennium Management LLC purchased a new stake in Eupraxia Pharmaceuticals in the 4th quarter worth $31,000.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. RODMAN&RENSHAW upgraded Eupraxia Pharmaceuticals to a “strong-buy” rating in a research report on Thursday, November 14th. Rodman & Renshaw assumed coverage on shares of Eupraxia Pharmaceuticals in a report on Thursday, November 14th. They set a “buy” rating and a $9.00 target price for the company.

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.