Oppenheimer downgraded shares of ESSA Pharma (NASDAQ:EPIX – Free Report) (TSE:EPI) from an outperform rating to a market perform rating in a research report released on Monday, MarketBeat.com reports.
Separately, Piper Sandler cut ESSA Pharma from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $15.00 to $2.00 in a research report on Monday.
Read Our Latest Research Report on EPIX
ESSA Pharma Trading Up 0.6 %
ESSA Pharma (NASDAQ:EPIX – Get Free Report) (TSE:EPI) last posted its quarterly earnings data on Monday, August 5th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.26) by $0.10. As a group, equities analysts forecast that ESSA Pharma will post -0.71 earnings per share for the current year.
Insider Activity
In related news, major shareholder Growth N. V. Biotech sold 7,879,583 shares of the company’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 7,883,053 shares of company stock worth $12,076,665 in the last three months. Company insiders own 14.70% of the company’s stock.
Hedge Funds Weigh In On ESSA Pharma
A hedge fund recently bought a new stake in ESSA Pharma stock. EntryPoint Capital LLC purchased a new position in ESSA Pharma Inc. (NASDAQ:EPIX – Free Report) (TSE:EPI) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 4,420 shares of the company’s stock, valued at approximately $38,000. 75.12% of the stock is currently owned by institutional investors.
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.
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