ESSA Pharma (NASDAQ:EPIX) Share Price Passes Above 50-Day Moving Average – Here’s Why

Shares of ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $5.78 and traded as high as $6.24. ESSA Pharma shares last traded at $5.95, with a volume of 19,742 shares traded.

ESSA Pharma Trading Down 1.2 %

The stock has a market cap of $263.96 million, a price-to-earnings ratio of -9.44 and a beta of 1.83. The firm’s 50-day moving average is $5.78 and its two-hundred day moving average is $5.91.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last announced its earnings results on Monday, August 5th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.10. On average, analysts predict that ESSA Pharma Inc. will post -0.71 earnings per share for the current year.

Institutional Investors 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) (TSE:EPI) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,420 shares of the company’s stock, valued at approximately $38,000. Institutional investors own 75.12% of the company’s stock.

ESSA Pharma Company Profile

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.