ESSA Pharma Inc. (NASDAQ:EPIX) Short Interest Down 5.2% in March

ESSA Pharma Inc. (NASDAQ:EPIXGet Free Report) (TSE:EPI) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 928,600 shares, a decline of 5.2% from the February 29th total of 979,400 shares. Based on an average daily volume of 152,800 shares, the short-interest ratio is presently 6.1 days. Approximately 4.6% of the shares of the stock are short sold.

Hedge Funds Weigh In On ESSA Pharma

Several large investors have recently modified their holdings of the stock. Soleus Capital Management L.P. increased its position in shares of ESSA Pharma by 46.5% during the 4th quarter. Soleus Capital Management L.P. now owns 3,869,392 shares of the company’s stock valued at $9,751,000 after purchasing an additional 1,228,853 shares during the last quarter. RTW Investments LP bought a new position in ESSA Pharma in the 4th quarter valued at $15,171,000. Rock Springs Capital Management LP grew its position in ESSA Pharma by 2.1% in the 3rd quarter. Rock Springs Capital Management LP now owns 677,005 shares of the company’s stock valued at $2,092,000 after acquiring an additional 13,688 shares during the last quarter. Two Sigma Investments LP grew its position in ESSA Pharma by 575.8% in the 3rd quarter. Two Sigma Investments LP now owns 347,758 shares of the company’s stock valued at $633,000 after acquiring an additional 296,302 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in ESSA Pharma by 570.1% in the 3rd quarter. Two Sigma Advisers LP now owns 342,400 shares of the company’s stock valued at $623,000 after acquiring an additional 291,300 shares during the last quarter. Institutional investors own 75.12% of the company’s stock.

ESSA Pharma Price Performance

NASDAQ:EPIX opened at $8.42 on Tuesday. ESSA Pharma has a 1 year low of $2.56 and a 1 year high of $11.67. The stock’s 50 day simple moving average is $9.00 and its two-hundred day simple moving average is $6.55. The company has a market cap of $372.50 million, a price-to-earnings ratio of -14.27 and a beta of 1.62.

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

Analysts Set New Price Targets

A number of research firms recently commented on EPIX. Jefferies Financial Group boosted their price target on ESSA Pharma from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, December 13th. Oppenheimer reissued an “outperform” rating and issued a $17.00 price target on shares of ESSA Pharma in a report on Wednesday, December 13th.

Read Our Latest Analysis on ESSA Pharma

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.

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