Magnus Financial Group LLC Buys New Holdings in ESSA Pharma Inc. (NASDAQ:EPIX)

Magnus Financial Group LLC purchased a new position in ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 55,206 shares of the company’s stock, valued at approximately $99,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EPIX. RTW Investments LP increased its stake in shares of ESSA Pharma by 41.9% during the third quarter. RTW Investments LP now owns 3,261,496 shares of the company’s stock valued at $19,765,000 after purchasing an additional 962,834 shares in the last quarter. Parkman Healthcare Partners LLC grew its stake in shares of ESSA Pharma by 37.2% in the 3rd quarter. Parkman Healthcare Partners LLC now owns 345,902 shares of the company’s stock worth $2,096,000 after buying an additional 93,830 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new position in ESSA Pharma during the 4th quarter valued at approximately $44,000. Institutional investors own 75.12% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder Growth N. V. Biotech sold 7,879,583 shares of the business’s stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. 14.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on EPIX shares. Jefferies Financial Group cut ESSA Pharma from a “buy” rating to a “hold” rating in a research note on Monday, November 4th. Piper Sandler downgraded shares of ESSA Pharma from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $15.00 to $2.00 in a research report on Monday, November 4th. Finally, Oppenheimer cut shares of ESSA Pharma from an “outperform” rating to a “market perform” rating in a report on Monday, November 4th.

ESSA Pharma Price Performance

EPIX stock opened at $1.74 on Friday. ESSA Pharma Inc. has a 1 year low of $1.40 and a 1 year high of $11.67. The company has a market cap of $77.24 million, a P/E ratio of -2.72 and a beta of 1.61. The stock’s fifty day moving average price is $1.73 and its 200-day moving average price is $4.01.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last announced its earnings results on Tuesday, December 17th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.05. As a group, analysts expect that ESSA Pharma Inc. will post -0.47 earnings per share for the current year.

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.