ESSA Pharma (EPIX) Receives a Buy from Oppenheimer
Oppenheimer analyst Mark Breidenbach assigned a Buy rating to ESSA Pharma (EPIX) yesterday and set a price target of $20.00. The company’s shares closed last Wednesday at $15.75.
According to TipRanks.com, Breidenbach is a 5-star analyst with an average return of 22.9% and a 48.2% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Arvinas Holding Company, and Iovance Biotherapeutics.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ESSA Pharma with a $18.50 average price target, which is a 28.6% upside from current levels. In a report issued on January 11, H.C. Wainwright also maintained a Buy rating on the stock with a $17.00 price target.
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Based on ESSA Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $4.53 million. In comparison, last year the company had a GAAP net loss of $3.31 million.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of EPIX in relation to earlier this year.
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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.