ESSA Pharma Inc. (NASDAQ:EPIX) marked $3.11 per share on Wednesday, down from a previous closing price of $3.19. While ESSA Pharma Inc. has underperformed by -2.51%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, EPIX fell by -76.24%, with highs and lows ranging from $14.88 to $1.40, whereas the simple moving average fell by -31.42% in the last 200 days.
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On March 04, 2021, Piper Sandler started tracking ESSA Pharma Inc. (NASDAQ: EPIX) recommending Overweight. A report published by H.C. Wainwright on January 11, 2021, Reiterated its previous ‘Buy’ rating for EPIX. Jefferies also rated EPIX shares as ‘Buy’, setting a target price of $17 on the company’s shares in an initiating report dated November 02, 2020. Oppenheimer Initiated an Outperform rating on October 25, 2019, and assigned a price target of $8.
Analysis of ESSA Pharma Inc. (EPIX)
In order to gain a clear picture of ESSA Pharma Inc.’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of -20.40% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 43.40, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 3.19M can be a very valuable indicator of volatility for EPIX stock. On a monthly basis, the volatility of the stock is set at 19.90%, whereas on a weekly basis, it is put at 7.48%, with a loss of -15.95% over the past seven days. Furthermore, long-term investors anticipate a median target price of $23.00, showing growth from the present price of $3.11, which can serve as yet another indication of whether EPIX is worth investing in or should be passed over.
How Do You Analyze ESSA Pharma Inc. Shares?
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 0.10%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 79.70% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in EPIX shares?
The recent increase in stakes in EPIX appears to be a result of several institutional investors and hedge funds increasing their positions. BVF Partners LP’s position in EPIX has increased by 136.54% in the first quarter. The company now owns 8,748,629 shares of the stock, with a value of $31.5 million, following the purchase of 5,050,000 additional shares during the last quarter. Bellevue Asset Management AG made another increased to its shares in EPIX during the first quarter, upping its stake by 33.58%. During the last quarter, the company picked up 1,981,000 additional shares for a total stake of worth $28.37 million, bringing number of shares owned by the company to 7,879,583.
During the first quarter, PFM Health Sciences LP added a 2,366,080 position in EPIX. Avidity Partners Management LP purchased an additional 1.29 million shares in the last quarter, increasing its holdings by 52.44%, now holding 3.75 million shares worth $13.5 million. At the end of the first quarter, Soleus Capital Management LP decreased its EPIX holdings by -36.66% and now holds 2.64 million EPIX shares valued at $9.51 million with the lessened -1.53 million shares during the period. EPIX shares are owned by institutional investors to the tune of 79.70% at present.