ESSA Pharma Inc. (NASDAQ:EPIX) Short Interest Up 37.6% in December

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 951,500 shares, a growth of 37.6% from the November 30th total of 691,500 shares. Based on an average trading volume of 874,500 shares, the short-interest ratio is currently 1.1 days.

Wall Street Analysts Forecast Growth

EPIX has been the subject of several recent analyst reports. Piper Sandler lowered shares of ESSA Pharma from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $15.00 to $2.00 in a report on Monday, November 4th. Jefferies Financial Group lowered ESSA Pharma from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Oppenheimer lowered ESSA Pharma from an “outperform” rating to a “market perform” rating in a research report on Monday, November 4th.

Insider Activity

In other news, major shareholder Growth N. V. Biotech sold 7,879,583 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $1.53, for a total transaction of $12,055,761.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 14.70% of the company’s stock.

Institutional Trading of ESSA Pharma

An institutional investor recently raised its position in ESSA Pharma stock. Parkman Healthcare Partners LLC raised its stake in ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) by 37.2% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 345,902 shares of the company’s stock after buying an additional 93,830 shares during the quarter. Parkman Healthcare Partners LLC owned approximately 0.78% of ESSA Pharma worth $2,096,000 as of its most recent SEC filing. Institutional investors and hedge funds own 75.12% of the company’s stock.

ESSA Pharma Stock Up 2.9 %

Shares of NASDAQ:EPIX traded up $0.05 on Monday, reaching $1.80. 1,860,430 shares of the company’s stock were exchanged, compared to its average volume of 307,796. ESSA Pharma has a fifty-two week low of $1.40 and a fifty-two week high of $11.67. The business’s 50-day moving average is $2.31 and its two-hundred day moving average is $4.38. The firm has a market capitalization of $79.90 million, a price-to-earnings ratio of -2.90 and a beta of 1.62.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last issued its earnings results on Tuesday, December 17th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. Analysts predict that ESSA Pharma will post -0.7 earnings per share for the current fiscal year.

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.