ESSA Pharma Inc. (NASDAQ:EPIX) Sees Significant Growth in Short Interest

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 1,010,000 shares, a growth of 14.4% from the June 15th total of 883,100 shares. Based on an average daily volume of 54,900 shares, the days-to-cover ratio is presently 18.4 days.

Analyst Ratings Changes

Separately, Oppenheimer restated an “outperform” rating and issued a $17.00 price target on shares of ESSA Pharma in a research note on Thursday, May 16th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of EPIX. BNP Paribas Financial Markets boosted its stake in ESSA Pharma by 164.9% during the fourth quarter. BNP Paribas Financial Markets now owns 57,466 shares of the company’s stock worth $379,000 after buying an additional 35,771 shares during the period. RTW Investments LP bought a new stake in shares of ESSA Pharma during the fourth quarter worth $15,171,000. EntryPoint Capital LLC bought a new stake in shares of ESSA Pharma during the first quarter worth $38,000. Finally, Janus Henderson Group PLC lifted its position in shares of ESSA Pharma by 7.9% during the first quarter. Janus Henderson Group PLC now owns 1,175,242 shares of the company’s stock worth $9,978,000 after purchasing an additional 85,760 shares during the last quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

ESSA Pharma Stock Performance

NASDAQ EPIX traded up $0.18 on Wednesday, hitting $5.70. 16,168 shares of the stock were exchanged, compared to its average volume of 101,701. The stock has a fifty day moving average price of $5.57 and a two-hundred day moving average price of $7.31. The firm has a market capitalization of $252.85 million, a P/E ratio of -9.05 and a beta of 1.82. ESSA Pharma has a 52-week low of $2.58 and a 52-week high of $11.67.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last posted its quarterly earnings data on Tuesday, May 14th. The company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.01). Sell-side analysts expect that ESSA Pharma will post -0.83 earnings per share for the current fiscal year.

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.