ESSA Pharma (NASDAQ:EPIX) Stock Rating Lowered by Oppenheimer

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) was downgraded by equities research analysts at Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Monday, Briefing.com reports.

Separately, Piper Sandler cut ESSA Pharma from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $15.00 to $2.00 in a research note on Monday.

ESSA Pharma Trading Down 73.1 %

NASDAQ EPIX opened at $1.40 on Monday. The company has a 50-day moving average price of $5.88 and a two-hundred day moving average price of $5.68. ESSA Pharma has a 52 week low of $1.40 and a 52 week high of $11.67. The stock has a market cap of $62.12 million, a price-to-earnings ratio of -2.26 and a beta of 1.84.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last issued its quarterly earnings data on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10. As a group, equities research analysts expect that ESSA Pharma will post -0.71 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ESSA Pharma stock. Janus Henderson Group PLC raised its position in shares of ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,175,242 shares of the company’s stock after purchasing an additional 85,760 shares during the quarter. Janus Henderson Group PLC owned about 2.66% of ESSA Pharma worth $9,978,000 as of its most recent SEC filing. Institutional investors and hedge funds own 75.12% of the company’s stock.

About ESSA Pharma

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.