Shares of ESSA Pharma Inc. (NASDAQ:EPIX - Get Free Report) TSE: EPI crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $5.36 and traded as low as $1.77. ESSA Pharma shares last traded at $1.77, with a volume of 425,985 shares changing hands.
Analyst Upgrades and Downgrades
EPIX has been the subject of a number of recent research reports. Jefferies Financial Group lowered ESSA Pharma from a "buy" rating to a "hold" rating in a report on Monday, November 4th. Piper Sandler downgraded ESSA Pharma from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $15.00 to $2.00 in a research 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.
Check Out Our Latest Analysis on ESSA Pharma
ESSA Pharma Stock Up 2.0 %
The stock has a market cap of $80.09 million, a PE ratio of -2.85 and a beta of 1.84. The firm has a fifty day moving average of $5.28 and a 200 day moving average of $5.42.
Insider Buying and Selling
In other 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 7,883,053 shares of company stock worth $12,076,665 over the last 90 days. 14.70% of the stock is owned by insiders.
Hedge Funds Weigh In On ESSA Pharma
A hedge fund recently raised its stake in ESSA Pharma stock. Janus Henderson Group PLC raised its holdings in ESSA Pharma Inc. (NASDAQ:EPIX - Free Report) TSE: EPI by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 about 2.66% of ESSA Pharma worth $9,978,000 as of its most recent filing with the SEC. 75.12% of the stock is currently owned by hedge funds and other institutional investors.
About ESSA Pharma
(
Get Free Report)
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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