ESSA Pharma (NASDAQ:EPIX) Downgraded by Piper Sandler to “Neutral”

Piper Sandler lowered shares of ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) from an overweight rating to a neutral rating in a report released on Monday morning, MarketBeat reports. The firm currently has $2.00 target price on the stock, down from their prior target price of $15.00.

ESSA Pharma Stock Up 16.4 %

EPIX opened at $1.63 on Monday. ESSA Pharma has a twelve month low of $1.40 and a twelve month high of $11.67. The firm’s 50-day simple moving average is $5.81 and its 200-day simple moving average is $5.64.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ESSA Pharma stock. EntryPoint Capital LLC acquired a new stake in ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 4,420 shares of the company’s stock, valued at approximately $38,000. Hedge funds and other institutional investors own 75.12% of the company’s stock.

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.