ESSA Pharma Inc. (NASDAQ:EPIX) Short Interest Update

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 901,200 shares, a decrease of 5.3% from the December 31st total of 951,500 shares. Based on an average daily trading volume, of 969,200 shares, the short-interest ratio is presently 0.9 days.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On ESSA Pharma

A number of institutional investors and hedge funds have recently bought and sold shares of EPIX. FNY Investment Advisers LLC purchased a new position in shares of ESSA Pharma during the 4th quarter worth about $44,000. Magnus Financial Group LLC purchased a new position in shares of ESSA Pharma in the 4th quarter worth about $99,000. Parkman Healthcare Partners LLC lifted its stake in shares of ESSA Pharma by 37.2% in the 3rd 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 increased its position in ESSA Pharma by 41.9% during the 3rd quarter. RTW Investments LP now owns 3,261,496 shares of the company’s stock worth $19,765,000 after purchasing an additional 962,834 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

ESSA Pharma Stock Down 1.7 %

NASDAQ:EPIX opened at $1.69 on Tuesday. The firm’s fifty day simple moving average is $1.73 and its 200-day simple moving average is $3.82. ESSA Pharma has a fifty-two week low of $1.40 and a fifty-two week high of $11.67.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last posted its earnings results on Tuesday, December 17th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.05. As a group, analysts forecast that ESSA Pharma will post -0.41 EPS for the current year.

ESSA Pharma Company Profile

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.