ESSA Pharma (NASDAQ:EPIX) Stock Crosses Above 50 Day Moving Average – Time to Sell?

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI)’s stock price passed above its 50 day moving average during trading on Friday . The stock has a 50 day moving average of $1.72 and traded as high as $1.76. ESSA Pharma shares last traded at $1.72, with a volume of 59,875 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on EPIX shares. Piper Sandler downgraded shares of ESSA Pharma from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $15.00 to $2.00 in a report on Monday, November 4th. Oppenheimer downgraded shares of ESSA Pharma from an “outperform” rating to a “market perform” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group downgraded shares of ESSA Pharma from a “buy” rating to a “hold” rating in a report on Monday, November 4th.

ESSA Pharma Stock Performance

The stock’s fifty day moving average is $1.72 and its 200 day moving average is $3.47. The stock has a market cap of $76.35 million, a P/E ratio of -2.49 and a beta of 1.60.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last announced its quarterly earnings data on Tuesday, February 11th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.01). Equities research analysts predict that ESSA Pharma Inc. will post -0.42 EPS for the current year.

Institutional Trading of ESSA Pharma

Institutional investors have recently added to or reduced their stakes in the company. Tang Capital Management LLC purchased a new position in shares of ESSA Pharma during the fourth quarter worth approximately $7,697,000. BML Capital Management LLC purchased a new position in shares of ESSA Pharma during the fourth quarter worth approximately $7,557,000. RTW Investments LP increased its position in shares of ESSA Pharma by 41.9% during the third quarter. RTW Investments LP now owns 3,261,496 shares of the company’s stock worth $19,765,000 after acquiring an additional 962,834 shares during the period. Altium Capital Management LLC purchased a new position in shares of ESSA Pharma during the fourth quarter worth approximately $2,556,000. Finally, Bank of America Corp DE increased its position in shares of ESSA Pharma by 10,153,775.0% during the fourth quarter. Bank of America Corp DE now owns 812,310 shares of the company’s stock worth $1,454,000 after acquiring an additional 812,302 shares during the period. Institutional investors own 75.12% of the company’s stock.

About ESSA Pharma

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.