ESSA Pharma (NASDAQ:EPIX) Share Price Passes Below 50-Day Moving Average of $9.00

Shares of ESSA Pharma Inc. (NASDAQ:EPIXGet Free Report) (TSE:EPI) passed below its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $9.00 and traded as low as $8.22. ESSA Pharma shares last traded at $8.49, with a volume of 119,410 shares traded.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating and set a $17.00 target price on shares of ESSA Pharma in a research note on Wednesday, December 13th. Jefferies Financial Group upped their target price on shares of ESSA Pharma from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, December 13th.

Get Our Latest Analysis on EPIX

ESSA Pharma Trading Down 0.8 %

The firm’s fifty day moving average price is $9.00 and its 200-day moving average price is $6.46. The firm has a market cap of $375.60 million, a price-to-earnings ratio of -14.39 and a beta of 1.64.

ESSA Pharma (NASDAQ:EPIXGet Free Report) (TSE:EPI) last issued its earnings results on Tuesday, February 13th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.03. On average, sell-side analysts expect that ESSA Pharma Inc. will post -0.8 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of EPIX. Swiss National Bank boosted its holdings in shares of ESSA Pharma by 7.5% in the 1st quarter. Swiss National Bank now owns 57,200 shares of the company’s stock valued at $353,000 after buying an additional 4,000 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in ESSA Pharma by 440.8% during the 1st quarter. JPMorgan Chase & Co. now owns 76,750 shares of the company’s stock worth $474,000 after purchasing an additional 62,558 shares during the period. Raymond James & Associates acquired a new stake in ESSA Pharma during the 1st quarter worth $251,000. Cibc World Market Inc. boosted its stake in ESSA Pharma by 36.8% during the 1st quarter. Cibc World Market Inc. now owns 115,232 shares of the company’s stock worth $712,000 after purchasing an additional 31,002 shares during the period. Finally, AlpInvest Partners B.V. acquired a new stake in ESSA Pharma during the 1st quarter worth $657,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

About ESSA Pharma

(Get Free Report)

ESSA Pharma Inc, a clinical stage pharmaceutical company, focuses the development of small molecule drugs for the treatment of prostate cancer. The company's lead candidate EPI-7386, an androgen receptor based resistance mechanisms that develop in patients with castration-resistant prostate cancer and metastatic castration-resistant prostate cancer.

Further Reading

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