ESSA Pharma (EPIX) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research cut shares of ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) from a buy rating to a hold rating in a research note released on Tuesday morning.

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. “

EPIX has been the subject of several other research reports. HC Wainwright began coverage on ESSA Pharma in a research note on Monday, March 26th. They set a buy rating and a $0.70 price target for the company. Bloom Burton upgraded ESSA Pharma from a hold rating to a buy rating in a research note on Thursday, January 18th. Finally, ValuEngine upgraded ESSA Pharma from a strong sell rating to a sell rating in a research note on Friday, February 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. ESSA Pharma has a consensus rating of Buy and an average price target of $2.48.

ESSA Pharma opened at $3.76 on Tuesday, MarketBeat reports. ESSA Pharma has a 12 month low of $3.81 and a 12 month high of $3.81. The company has a debt-to-equity ratio of -0.84, a current ratio of 0.62 and a quick ratio of 0.62. The company has a market cap of $22.30 million, a PE ratio of -0.47 and a beta of 1.68.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last released its quarterly earnings results on Monday, May 14th. The company reported ($0.83) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.43). sell-side analysts anticipate that ESSA Pharma will post -1.73 EPS for the current fiscal year.

ESSA Pharma Company Profile

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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