ESSA Pharma (EPIX) Stock Rating Lowered by Zacks Investment Research

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

According to Zacks, “ESSA Pharma Inc. is a pharmaceutical company. The company focused on the development of small molecule drugs for the treatment of cancer, with focus on advanced prostate cancer. ESSA Pharma Inc. is based in Vancouver, Canada. “

Shares of EPIX stock opened at $3.58 on Tuesday. The company has a current ratio of 5.33, a quick ratio of 5.33 and a debt-to-equity ratio of 0.37. ESSA Pharma has a 52-week low of $2.00 and a 52-week high of $7.40. The firm has a market capitalization of $17.33 million, a P/E ratio of -0.46 and a beta of 1.61.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last issued its quarterly earnings data on Tuesday, August 14th. The company reported ($0.50) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.74) by $0.24. On average, analysts predict that ESSA Pharma will post -2.6 EPS for the current year.

A hedge fund recently bought a new stake in ESSA Pharma stock. Omega Fund Management LLC acquired a new position in ESSA Pharma Inc (NASDAQ:EPIX) (TSE:EPI) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,084,848 shares of the company’s stock, valued at approximately $4,122,000. ESSA Pharma makes up 3.0% of Omega Fund Management LLC’s holdings, making the stock its 9th largest holding. Omega Fund Management LLC owned 18.77% of ESSA Pharma as of its most recent SEC filing. Institutional investors and hedge funds own 66.46% of the company’s stock.

About ESSA Pharma

ESSA Pharma Inc, a clinical stage pharmaceutical company, focuses on the development of novel therapeutics for the treatment of prostate cancer. It is developing EPI-506 that is in Phase 1/2 clinical trials for the treatment of prostate cancer. The company was founded in 2009 and is headquartered in Vancouver, Canada.

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