ESSA Pharma (NASDAQ:EPIX) Stock Passes Above Fifty Day Moving Average – What’s Next?

Shares of ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $5.78 and traded as high as $6.24. ESSA Pharma shares last traded at $5.95, with a volume of 19,742 shares changing hands.

ESSA Pharma Stock Down 1.2 %

The company has a market capitalization of $263.96 million, a PE ratio of -9.44 and a beta of 1.83. The firm has a 50-day moving average of $5.78 and a two-hundred day moving average of $5.91.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last posted its earnings results on Monday, August 5th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.26) by $0.10. Equities analysts predict that ESSA Pharma Inc. will post -0.71 EPS for the current fiscal year.

Institutional Investors Weigh In On ESSA Pharma

A hedge fund recently raised its stake in ESSA Pharma stock. Janus Henderson Group PLC increased its holdings in ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) by 7.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 2.66% of ESSA Pharma worth $9,978,000 at the end of the most recent reporting period. Institutional investors own 75.12% of the company’s stock.

ESSA Pharma Company Profile

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.