Growth N. V. Biotech Sells 7,879,583 Shares of ESSA Pharma Inc. (NASDAQ:EPIX) Stock

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) major shareholder Growth N. V. Biotech sold 7,879,583 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was 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 can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

ESSA Pharma Stock Up 5.4 %

Shares of EPIX traded up $0.09 during trading hours on Tuesday, reaching $1.72. 1,151,429 shares of the company traded hands, compared to its average volume of 277,509. The stock has a market capitalization of $76.20 million, a P/E ratio of -2.75 and a beta of 1.84. ESSA Pharma Inc. has a 12-month low of $1.40 and a 12-month high of $11.67. The business has a fifty day moving average price of $5.81 and a 200-day moving average price of $5.64.

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

Analysts Set New Price Targets

EPIX has been the subject of several research analyst reports. Oppenheimer downgraded shares of ESSA Pharma from an “outperform” rating to a “market perform” rating in a research note on Monday. Piper Sandler downgraded shares of ESSA Pharma from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $15.00 to $2.00 in a research note on Monday. Finally, Jefferies Financial Group downgraded shares of ESSA Pharma from a “buy” rating to a “hold” rating in a research note on Monday.

Institutional Investors Weigh In On ESSA Pharma

A hedge fund recently raised its stake in ESSA Pharma stock. Janus Henderson Group PLC grew its position in ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) by 7.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm 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 about 2.66% of ESSA Pharma worth $9,978,000 at the end of the most recent quarter. Institutional investors and hedge funds 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.