ESSA Pharma (NASDAQ:EPIX) Stock Rating Lowered by Jefferies Financial Group

Jefferies Financial Group cut shares of ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) from a buy rating to a hold rating in a report issued on Monday, Marketbeat.com reports.

A number of other analysts have also commented on EPIX. Piper Sandler lowered ESSA Pharma from an “overweight” rating to a “neutral” rating and cut their price target for the company from $15.00 to $2.00 in a research note on Monday. Oppenheimer downgraded shares of ESSA Pharma from an “outperform” rating to a “market perform” rating in a research report on Monday.

ESSA Pharma Price Performance

Shares of NASDAQ:EPIX opened at $1.71 on Monday. ESSA Pharma has a one year low of $1.40 and a one year high of $11.67. The company has a market cap of $75.87 million, a price-to-earnings ratio of -2.76 and a beta of 1.84. The firm has a 50 day simple moving average of $5.67 and a 200 day simple moving average of $5.58.

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 the consensus estimate of ($0.26) by $0.10. As a group, analysts expect that ESSA Pharma will post -0.71 EPS for the current year.

Insider Buying and Selling at ESSA Pharma

In other news, major shareholder Growth N. V. Biotech sold 7,879,583 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $1.53, for a total transaction of $12,055,761.99. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 7,883,053 shares of company stock worth $12,076,665. Insiders own 14.70% of the company’s stock.

Hedge Funds Weigh In On ESSA Pharma

An institutional investor recently raised its position in ESSA Pharma stock. Janus Henderson Group PLC lifted its holdings in ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) by 7.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,175,242 shares of the company’s stock after acquiring an additional 85,760 shares during the period. Janus Henderson Group PLC owned approximately 2.66% of ESSA Pharma worth $9,978,000 as of its most recent filing with the Securities and Exchange Commission. 75.12% of the stock is 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.