ESSA Pharma (NASDAQ:EPIX) Price Target Raised to $17.00


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ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) had its price target increased by HC Wainwright from $10.00 to $17.00 in a research report sent to investors on Monday, AR Network reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Jefferies Financial Group initiated coverage on shares of ESSA Pharma in a research report on Monday, November 2nd. They set a buy rating and a $17.00 price target for the company. BidaskClub upgraded shares of ESSA Pharma from a buy rating to a strong-buy rating in a research report on Monday, December 28th. Five analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $13.00.

Shares of EPIX opened at $15.75 on Monday. ESSA Pharma has a 1-year low of $3.00 and a 1-year high of $16.10. The stock has a market cap of $505.01 million, a PE ratio of -14.58 and a beta of 1.79. The firm has a 50-day simple moving average of $9.15 and a two-hundred day simple moving average of $7.25.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last announced its quarterly earnings results on Tuesday, December 15th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.03. Equities analysts forecast that ESSA Pharma will post -0.93 earnings per share for the current year.

Several hedge funds have recently made changes to their positions in EPIX. JPMorgan Chase & Co. acquired a new position in shares of ESSA Pharma in the third quarter valued at approximately $34,000. Commonwealth Equity Services LLC grew its holdings in shares of ESSA Pharma by 15.5% in the second quarter. Commonwealth Equity Services LLC now owns 24,270 shares of the company’s stock valued at $150,000 after purchasing an additional 3,250 shares in the last quarter. Caxton Corp acquired a new position in shares of ESSA Pharma in the third quarter valued at approximately $183,000. Sphera Funds Management LTD. acquired a new position in shares of ESSA Pharma in the third quarter valued at approximately $1,725,000. Finally, Morgan Stanley grew its holdings in ESSA Pharma by 175.5% during the 3rd quarter. Morgan Stanley now owns 346,819 shares of the company’s stock worth $2,393,000 after acquiring an additional 220,954 shares in the last quarter. Hedge funds and other institutional investors own 43.88% of the company’s stock.

ESSA Pharma Company Profile

ESSA Pharma Inc, a clinical stage pharmaceutical company, focuses on developing novel and proprietary therapies for the treatment of prostate cancer. It develops EPI-7386, an oral candidate that is in a Phase I clinical study for the treatment of patients with metastatic castration-resistant prostate cancer.

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