ESSA Pharma (NASDAQ:EPIX) Announces Quarterly Earnings Results

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) announced its earnings results on Tuesday. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05, Zacks reports.

ESSA Pharma Stock Performance

NASDAQ:EPIX opened at $1.63 on Tuesday. ESSA Pharma has a one year low of $1.40 and a one year high of $11.67. The stock has a market cap of $72.32 million, a PE ratio of -2.63 and a beta of 1.62. The stock has a 50 day moving average price of $3.18 and a 200 day moving average price of $4.67.

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 value of $12,055,761.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 14.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Piper Sandler downgraded ESSA Pharma from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $15.00 to $2.00 in a research note on Monday, November 4th. Jefferies Financial Group lowered shares of ESSA Pharma from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Oppenheimer downgraded shares of ESSA Pharma from an “outperform” rating to a “market perform” rating in a research note on Monday, November 4th.

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.