Insider Selling: ESSA Pharma Inc. (NASDAQ:EPIX) Major Shareholder Sells 7,879,583 Shares of 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 dated Friday, November 1st. The shares were sold at an average price of $1.53, for a total value of $12,055,761.99. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

ESSA Pharma Price Performance

NASDAQ EPIX opened at $1.77 on Friday. The stock’s 50 day simple moving average is $5.59 and its 200-day simple moving average is $5.55. The company has a market cap of $78.53 million, a PE ratio of -2.85 and a beta of 1.84. ESSA Pharma Inc. has a 1-year low of $1.40 and a 1-year high of $11.67.

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. On average, equities research analysts anticipate that ESSA Pharma Inc. will post -0.71 EPS for the current fiscal year.

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) (TSE:EPI) by 7.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 approximately 2.66% of ESSA Pharma worth $9,978,000 at the end of the most recent quarter. Institutional investors own 75.12% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Oppenheimer lowered ESSA Pharma from an “outperform” rating to a “market perform” rating in a report on Monday. Jefferies Financial Group cut shares of ESSA Pharma from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Piper Sandler cut 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 report on Monday.

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.