Insider Selling: ESSA Pharma Inc. (NASDAQ:EPIX) Major Shareholder Sells $12,055,761.99 in Stock

ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) major shareholder Growth N. V. Biotech sold 7,879,583 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $1.53, for a total value of $12,055,761.99. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

ESSA Pharma Price Performance

NASDAQ:EPIX opened at $1.77 on Friday. The business has a fifty day simple moving average of $5.59 and a two-hundred day simple moving average of $5.55. ESSA Pharma Inc. has a 1 year low of $1.40 and a 1 year high of $11.67. The company has a market capitalization of $78.53 million, a P/E ratio of -2.85 and a beta of 1.84.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last released its earnings results on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.10. As a group, analysts anticipate that ESSA Pharma Inc. will post -0.71 earnings per share for the current year.

Analyst Ratings Changes

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

Institutional Trading of ESSA Pharma

A hedge fund recently raised its stake in ESSA Pharma stock. Janus Henderson Group PLC increased its stake in ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,175,242 shares of the company’s stock after purchasing an additional 85,760 shares during the quarter. Janus Henderson Group PLC owned about 2.66% of ESSA Pharma worth $9,978,000 at the end of the most recent quarter. 75.12% of the stock is owned by hedge funds and other institutional investors.

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.