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

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

ESSA Pharma Trading Up 0.6 %

Shares of EPIX opened at $1.71 on Monday. The stock has a 50 day moving average of $5.67 and a 200 day moving average of $5.58. ESSA Pharma has a 12 month low of $1.40 and a 12 month high of $11.67. The company has a market capitalization of $75.87 million, a price-to-earnings ratio of -2.76 and a beta of 1.84.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last released its 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. As a group, equities research analysts predict that ESSA Pharma will post -0.71 earnings per share for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in ESSA Pharma stock. Janus Henderson Group PLC raised its holdings in shares of ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) by 7.9% during the 1st quarter, according to the company in its most recent Form 13F filing 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 approximately 2.66% of ESSA Pharma worth $9,978,000 as of its most recent filing with the Securities & Exchange Commission. 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.