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

Piper Sandler lowered shares of ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) from an overweight rating to a neutral rating in a research note released on Monday, Marketbeat.com reports. The firm currently has $2.00 price objective on the stock, down from their previous price objective of $15.00.

ESSA Pharma Stock Up 16.4 %

Shares of ESSA Pharma stock opened at $1.63 on Monday. ESSA Pharma has a 1 year low of $1.40 and a 1 year high of $11.67. The business has a fifty day simple moving average of $5.81 and a two-hundred day simple moving average of $5.64.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last released its quarterly earnings results on Monday, August 5th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.10. Sell-side analysts predict that ESSA Pharma will post -0.71 EPS for the current year.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ESSA Pharma stock. EntryPoint Capital LLC bought a new stake in ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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.

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.