ESSA Pharma Inc. (NASDAQ:EPIX) Major Shareholder Growth N. V. Biotech Sells 7,879,583 Shares of Stock

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) major shareholder Growth N. V. Biotech sold 7,879,583 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was 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 SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

ESSA Pharma Stock Up 4.3 %

Shares of EPIX opened at $1.70 on Wednesday. The business’s fifty day moving average is $5.74 and its 200 day moving average is $5.61. ESSA Pharma Inc. has a 12-month low of $1.40 and a 12-month high of $11.67. The stock has a market cap of $75.43 million, a P/E ratio of -2.74 and a beta of 1.84.

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

Institutional Investors Weigh In On ESSA Pharma

A hedge fund recently raised its stake in ESSA Pharma stock. Janus Henderson Group PLC raised its stake in ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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 2.66% of ESSA Pharma worth $9,978,000 as of its most recent filing with the Securities & Exchange Commission. 75.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.