In a report released today, Mark Breidenbach from Oppenheimer assigned a Buy rating to ESSA Pharma (EPIX), with a price target of $9.00. The company’s shares closed last Wednesday at $6.50.
According to TipRanks.com, Breidenbach is a 5-star analyst with an average return of 10.5% and a 44.4% success rate. Breidenbach covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Iovance Biotherapeutics, and Arvinas Holding Company.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for ESSA Pharma with a $8.33 average price target, representing a 36.1% upside. In a report released today, H.C. Wainwright also maintained a Buy rating on the stock with a $8.00 price target.
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Based on ESSA Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $9.36 million. In comparison, last year the company had a GAAP net loss of $3.43 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.
