Oppenheimer Believes ESSA Pharma (EPIX) Still Has Room to Grow


In a report released yesterday, Mark Breidenbach from Oppenheimer maintained a Buy rating on ESSA Pharma (EPIX), with a price target of $9.00. The company’s shares closed last Friday at $6.83, close to its 52-week high of $7.31.

According to TipRanks.com, Breidenbach is a 5-star analyst with an average return of 11.4% and a 45.5% 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 $8.67 average price target.

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The company has a one-year high of $7.31 and a one-year low of $1.46. Currently, ESSA Pharma has an average volume of 77.16K.

Based on the recent corporate insider activity of 22 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.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.

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