H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on ESSA Pharma Inc (EPIX) today and set a price target of $14. The company’s shares closed yesterday at $3.61.
Pantginis noted:
“Valuation and risks to price target achievement. We reiterate our Buy rating and $14 price target. Our price target is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Our current target is based 100% on the projected lead Aniten asset for prostate cancer. Factors that could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway.”
According to TipRanks.com, Pantginis is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -20.1% and a 26.1% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Dova Pharmaceuticals Inc.
Currently, the analyst consensus on ESSA Pharma Inc is a Moderate Buy with an average price target of $14.
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Based on ESSA Pharma Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $2.71 million. In comparison, last year the company had a GAAP net loss of $2.13 million.
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ESSA Pharma, Inc. engages in the development of small molecule drugs for prostate cancer. It focuses on producing drugs which selectively block the amino-terminal domain (NTD) of the androgen receptor (AR), potentially overcoming the known AR-dependent resistance mechanisms of castration-resistant prostate cancer (CRPC), and providing CRPC patients with the potential for increased progression-free and overall survival. The company was founded by Marianne D. Sadar and Raymond J. Andersen on January 6, 2009 and is headquartered in Vancouver, Canada.
