ESSA Pharma Inc. (NASDAQ:EPIX) Sees Significant Decrease in Short Interest

ESSA Pharma Inc. (NASDAQ:EPIXGet Free Report) (TSE:EPI) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 928,600 shares, a drop of 5.2% from the February 29th total of 979,400 shares. Currently, 4.6% of the company’s shares are short sold. Based on an average daily volume of 152,800 shares, the days-to-cover ratio is currently 6.1 days.

ESSA Pharma Stock Down 0.8 %

NASDAQ EPIX opened at $8.42 on Tuesday. The firm has a market capitalization of $372.50 million, a PE ratio of -14.27 and a beta of 1.62. The stock’s 50 day moving average is $9.00 and its 200 day moving average is $6.55. ESSA Pharma has a twelve month low of $2.56 and a twelve month high of $11.67.

ESSA Pharma (NASDAQ:EPIXGet Free Report) (TSE:EPI) last posted its quarterly earnings data on Tuesday, February 13th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. On average, research analysts anticipate that ESSA Pharma will post -0.8 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EPIX shares. Oppenheimer reiterated an “outperform” rating and issued a $17.00 price objective on shares of ESSA Pharma in a research report on Wednesday, December 13th. Jefferies Financial Group lifted their target price on shares of ESSA Pharma from $15.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, December 13th.

View Our Latest Stock Analysis on EPIX

Institutional Trading of ESSA Pharma

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Rock Springs Capital Management LP increased its position in shares of ESSA Pharma by 2.1% during the third quarter. Rock Springs Capital Management LP now owns 677,005 shares of the company’s stock valued at $2,092,000 after acquiring an additional 13,688 shares in the last quarter. Jane Street Group LLC bought a new stake in shares of ESSA Pharma in the 1st quarter worth $154,000. Cubist Systematic Strategies LLC raised its stake in shares of ESSA Pharma by 86.0% in the third quarter. Cubist Systematic Strategies LLC now owns 55,614 shares of the company’s stock worth $101,000 after purchasing an additional 25,715 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of ESSA Pharma during the second quarter valued at $81,000. Finally, Bank of America Corp DE lifted its holdings in shares of ESSA Pharma by 41.7% during the first quarter. Bank of America Corp DE now owns 11,614 shares of the company’s stock valued at $72,000 after purchasing an additional 3,420 shares in the last quarter. Hedge funds and other institutional investors own 75.12% of the company’s stock.

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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