ESSA Pharma (NASDAQ:EPIX) Stock Price Passes Below Fifty Day Moving Average – What’s Next?

ESSA Pharma Inc. (NASDAQ:EPIXGet Free Report) (TSE:EPI)’s stock price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.74 and traded as low as $1.73. ESSA Pharma shares last traded at $1.77, with a volume of 131,678 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Oppenheimer lowered shares of ESSA Pharma from an “outperform” rating to a “market perform” rating in a report on Monday, November 4th. Jefferies Financial Group cut ESSA Pharma from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Finally, Piper Sandler lowered shares of ESSA Pharma from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $2.00 in a research note on Monday, November 4th.

Check Out Our Latest Stock Report on EPIX

ESSA Pharma Trading Up 2.3 %

The company has a fifty day moving average price of $1.74 and a two-hundred day moving average price of $4.14. The firm has a market cap of $78.57 million, a P/E ratio of -2.85 and a beta of 1.61.

ESSA Pharma (NASDAQ:EPIXGet Free Report) (TSE:EPI) last announced its quarterly earnings results on Tuesday, December 17th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. As a group, sell-side analysts expect that ESSA Pharma Inc. will post -0.7 EPS for the current year.

Insider Activity at ESSA Pharma

In other news, major shareholder Growth N. V. Biotech sold 7,879,583 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $1.53, for a total value of $12,055,761.99. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 14.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ESSA Pharma

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in shares of ESSA Pharma in the fourth quarter valued at approximately $44,000. Parkman Healthcare Partners LLC grew its position in ESSA Pharma by 37.2% in the third quarter. Parkman Healthcare Partners LLC now owns 345,902 shares of the company’s stock valued at $2,096,000 after purchasing an additional 93,830 shares in the last quarter. Finally, RTW Investments LP grew its position in ESSA Pharma by 41.9% in the third quarter. RTW Investments LP now owns 3,261,496 shares of the company’s stock valued at $19,765,000 after purchasing an additional 962,834 shares in the last quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

ESSA Pharma Company Profile

(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.

Featured Stories

Receive News & Ratings for ESSA Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ESSA Pharma and related companies with MarketBeat.com's FREE daily email newsletter.