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

Zacks Investment Research cut shares of ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) from a strong-buy rating to a hold rating in a research note published 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. “

ESSA Pharma stock opened at $3.33 on Tuesday. The company has a quick ratio of 5.33, a current ratio of 5.33 and a debt-to-equity ratio of 0.37. ESSA Pharma has a one year low of $2.00 and a one year high of $7.40.

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

A hedge fund recently bought a new stake in ESSA Pharma stock. DRW Securities LLC purchased a new stake in ESSA Pharma Inc (NASDAQ:EPIX) (TSE:EPI) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 33,857 shares of the company’s stock, valued at approximately $128,000. DRW Securities LLC owned 0.59% of ESSA Pharma as of its most recent filing with the Securities & Exchange Commission. 66.46% of the stock is currently owned by hedge funds and other institutional investors.

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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