ESSA Pharma Inc (NASDAQ:EPIX) (TSE:EPI) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 92,500 shares, a decrease of 23.0% from the December 15th total of 120,100 shares. Currently, 0.7% of the shares of the company are sold short. Based on an average trading volume of 41,000 shares, the short-interest ratio is currently 2.3 days.
EPIX has been the subject of several recent analyst reports. ValuEngine lowered ESSA Pharma from a “hold” rating to a “sell” rating in a report on Saturday, October 19th. Oppenheimer initiated coverage on ESSA Pharma in a report on Thursday, October 24th. They issued an “outperform” rating and a $8.00 target price for the company.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Orbimed Advisors LLC bought a new position in ESSA Pharma during the third quarter valued at $4,960,000. Eventide Asset Management LLC grew its holdings in ESSA Pharma by 45.1% during the third quarter. Eventide Asset Management LLC now owns 2,010,169 shares of the company’s stock valued at $6,436,000 after purchasing an additional 625,000 shares during the period. Finally, Commonwealth Equity Services LLC bought a new position in ESSA Pharma during the third quarter valued at $38,000. 83.48% of the stock is owned by institutional investors and hedge funds.
ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last announced its quarterly earnings data on Thursday, December 19th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.09. On average, sell-side analysts expect that ESSA Pharma will post -0.72 EPS for the current fiscal year.
About ESSA Pharma
ESSA Pharma Inc, a pharmaceutical company, focuses on the development of small molecule drugs for the treatment of prostate cancer. The company was founded in 2009 and is headquartered in Vancouver, Canada.
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