ESSA Pharma Inc. (NASDAQ:EPIX) Short Interest Down 5.3% in January

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) was the target of a large decrease in short interest in January. As of January 15th, there was short interest totalling 901,200 shares, a decrease of 5.3% from the December 31st total of 951,500 shares. Based on an average daily trading volume, of 969,200 shares, the short-interest ratio is currently 0.9 days.

Institutional Investors Weigh In On ESSA Pharma

Large investors have recently bought and sold shares of the stock. RTW Investments LP grew its holdings in ESSA Pharma by 41.9% during the 3rd quarter. RTW Investments LP now owns 3,261,496 shares of the company’s stock valued at $19,765,000 after buying an additional 962,834 shares during the last quarter. Parkman Healthcare Partners LLC grew its holdings in ESSA Pharma by 37.2% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 345,902 shares of the company’s stock valued at $2,096,000 after buying an additional 93,830 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in ESSA Pharma during the 4th quarter valued at $44,000. Finally, Magnus Financial Group LLC acquired a new stake in ESSA Pharma during the 4th quarter valued at $99,000. Institutional investors and hedge funds own 75.12% of the company’s stock.

ESSA Pharma Stock Down 1.7 %

Shares of EPIX traded down $0.03 on Monday, reaching $1.69. The stock had a trading volume of 231,384 shares, compared to its average volume of 230,833. The firm has a market capitalization of $75.02 million, a PE ratio of -2.64 and a beta of 1.60. The firm has a 50-day moving average of $1.73 and a 200 day moving average of $3.82. ESSA Pharma has a twelve month low of $1.40 and a twelve month high of $11.67.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last released its quarterly earnings results on Tuesday, December 17th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. On average, sell-side analysts anticipate that ESSA Pharma will post -0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EPIX. Jefferies Financial Group downgraded ESSA Pharma from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Oppenheimer downgraded ESSA Pharma from an “outperform” rating to a “market perform” rating in a research note on Monday, November 4th. Finally, Piper Sandler cut ESSA Pharma from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $15.00 to $2.00 in a report 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.