Piper Sandler lifts ESSA Pharma Inc. [EPIX] price estimate. Who else is bullish?


ESSA Pharma Inc. [NASDAQ: EPIX] loss -1.49% or -0.04 points to close at $2.65 with a heavy trading volume of 6230811 shares. The company report on July 11, 2022 that EPIX: Encouraging Signs of Activity in Phase 1 Trial of EPI-7386….

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By David Bautz, PhD.

It opened the trading session at $2.73, the shares rose to $2.79 and dropped to $2.5901, the range by which the price of stock traded the whole day. The daily chart for EPIX points out that the company has recorded -80.06% loss over the past six months. However, it is still -4.74% lower than its most recent low trading price.

If we look at the average trading volume of 214.55K shares, EPIX reached to a volume of 6230811 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about ESSA Pharma Inc. [EPIX]:

Piper Sandler have made an estimate for ESSA Pharma Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on March 04, 2021. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price from $10 to $17. The new note on the price target was released on January 11, 2021, representing the official price target for ESSA Pharma Inc. stock. Previously, the target price had yet another raise to $17, while Jefferies analysts kept a Buy rating on EPIX stock.

The Average True Range (ATR) for ESSA Pharma Inc. is set at 0.38 The Price to Book ratio for the last quarter was 0.65, with the Price to Cash per share for the same quarter was set at 4.23.

Trading performance analysis for EPIX stock

ESSA Pharma Inc. [EPIX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.03. With this latest performance, EPIX shares dropped by -48.54% in over the last four-week period, additionally sinking by -80.06% over the last 6 months – not to mention a drop of -90.59% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for EPIX stock in for the last two-week period is set at 21.70, with the RSI for the last a single of trading hit 18.57, and the three-weeks RSI is set at 25.20 for ESSA Pharma Inc. [EPIX]. The present Moving Average for the last 50 days of trading for this stock 4.78, while it was recorded at 2.65 for the last single week of trading, and 8.36 for the last 200 days.

ESSA Pharma Inc. [EPIX]: A deeper dive into fundamental analysis

Return on Equity for this stock declined to -26.94, with Return on Assets sitting at -26.41.

ESSA Pharma Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 48.60 and a Current Ratio set at 48.60.

An analysis of insider ownership at ESSA Pharma Inc. [EPIX]

There are presently around $99 million, or 86.10% of EPIX stock, in the hands of institutional investors. The top three institutional holders of EPIX stocks are: BELLEVUE GROUP AG with ownership of 5,034,814, which is approximately 0% of the company’s market cap and around 11.40% of the total institutional ownership; SOLEUS CAPITAL MANAGEMENT, L.P., holding 4,223,799 shares of the stock with an approximate value of $11.19 million in EPIX stocks shares; and EVENTIDE ASSET MANAGEMENT, LLC, currently with $11.05 million in EPIX stock with ownership of nearly 25.661% of the company’s market capitalization.

Positions in ESSA Pharma Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 41 institutional holders increased their position in ESSA Pharma Inc. [NASDAQ:EPIX] by around 5,720,999 shares. Additionally, 26 investors decreased positions by around 6,235,895 shares, while 14 investors held positions by with 25,239,867 shares. The mentioned changes placed institutional holdings at 37,196,761 shares, according to the latest SEC report filing. EPIX stock had 19 new institutional investments in for a total of 1,249,004 shares, while 12 institutional investors sold positions of 4,446,050 shares during the same period.