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

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) was the recipient of a large 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 trading volume of 969,200 shares, the days-to-cover ratio is presently 0.9 days.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on EPIX shares. Oppenheimer lowered shares of ESSA Pharma from an “outperform” rating to a “market perform” rating in a research note on Monday, November 4th. Piper Sandler downgraded ESSA Pharma from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $15.00 to $2.00 in a report on Monday, November 4th. Finally, Jefferies Financial Group downgraded ESSA Pharma from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

Institutional Investors Weigh In On ESSA Pharma

Several large investors have recently added to or reduced their stakes in the stock. Parkman Healthcare Partners LLC grew its position in shares of ESSA Pharma by 37.2% during the third quarter. Parkman Healthcare Partners LLC now owns 345,902 shares of the company’s stock worth $2,096,000 after acquiring an additional 93,830 shares during the last quarter. RTW Investments LP boosted its stake in ESSA Pharma by 41.9% during the 3rd quarter. RTW Investments LP now owns 3,261,496 shares of the company’s stock valued at $19,765,000 after purchasing an additional 962,834 shares during the period. FNY Investment Advisers LLC bought a new position in ESSA Pharma in the 4th quarter worth about $44,000. Finally, Magnus Financial Group LLC acquired a new stake in shares of ESSA Pharma in the fourth quarter valued at approximately $99,000. 75.12% of the stock is owned by institutional investors and hedge funds.

ESSA Pharma Stock Down 0.6 %

Shares of NASDAQ:EPIX opened at $1.72 on Friday. The company has a market cap of $76.35 million, a PE ratio of -2.69 and a beta of 1.61. ESSA Pharma has a fifty-two week low of $1.40 and a fifty-two week high of $11.67. The firm has a 50-day simple moving average of $1.73 and a 200 day simple moving average of $3.84.

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