ESSA Pharma (NASDAQ:EPIX) Rating Lowered to Neutral at Piper Sandler

Piper Sandler downgraded shares of ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) from an overweight rating to a neutral rating in a report published on Monday morning, MarketBeat.com reports. Piper Sandler currently has $2.00 price objective on the stock, down from their previous price objective of $15.00.

ESSA Pharma Price Performance

NASDAQ:EPIX opened at $1.77 on Monday. ESSA Pharma has a one year low of $1.40 and a one year high of $11.67. The business has a fifty day moving average price of $5.59 and a 200-day moving average price of $5.55. The firm has a market capitalization of $78.53 million, a price-to-earnings ratio of -2.85 and a beta of 1.84.

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

Insiders Place Their Bets

In other ESSA Pharma news, major shareholder Growth N. V. Biotech sold 7,879,583 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $1.53, for a total value of $12,055,761.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 7,883,053 shares of company stock worth $12,076,665. Company insiders own 14.70% of the company’s stock.

Institutional Investors Weigh In On ESSA Pharma

An institutional investor recently bought a new position in ESSA Pharma stock. EntryPoint Capital LLC bought a new position in shares of ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,420 shares of the company’s stock, valued at approximately $38,000. 75.12% of the stock is owned by institutional investors and hedge funds.

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.