Magnus Financial Group LLC Invests $99,000 in ESSA Pharma Inc. (NASDAQ:EPIX)

Magnus Financial Group LLC acquired a new stake in shares of ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 55,206 shares of the company’s stock, valued at approximately $99,000. Magnus Financial Group LLC owned approximately 0.12% of ESSA Pharma as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in shares of ESSA Pharma during the fourth quarter worth $44,000. Parkman Healthcare Partners LLC grew its holdings in ESSA Pharma by 37.2% in the third quarter. Parkman Healthcare Partners LLC now owns 345,902 shares of the company’s stock worth $2,096,000 after purchasing an additional 93,830 shares during the period. Finally, RTW Investments LP grew its stake in shares of ESSA Pharma by 41.9% in the 3rd quarter. RTW Investments LP now owns 3,261,496 shares of the company’s stock valued at $19,765,000 after buying an additional 962,834 shares during the period. 75.12% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on EPIX. Oppenheimer downgraded shares of ESSA Pharma from an “outperform” rating to a “market perform” rating in a research report on Monday, November 4th. Jefferies Financial Group lowered ESSA Pharma from a “buy” rating to a “hold” rating in a report on Monday, November 4th. Finally, Piper Sandler downgraded shares of ESSA Pharma from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $15.00 to $2.00 in a report on Monday, November 4th.

ESSA Pharma Trading Up 1.8 %

Shares of EPIX stock opened at $1.74 on Friday. The stock has a market capitalization of $77.24 million, a P/E ratio of -2.72 and a beta of 1.61. The firm’s 50 day moving average is $1.73 and its 200 day moving average is $4.01. ESSA Pharma Inc. has a 12 month low of $1.40 and a 12 month high of $11.67.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last announced its quarterly earnings results on Tuesday, December 17th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.05. On average, equities analysts predict that ESSA Pharma Inc. will post -0.47 EPS for the current year.

Insider Activity at ESSA Pharma

In other news, major shareholder Growth N. V. Biotech sold 7,879,583 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $1.53, for a total transaction of $12,055,761.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 14.70% of the stock is owned by corporate insiders.

ESSA Pharma Profile

ESSA Pharma Inc, a clinical stage pharmaceutical company, focuses the development of small molecule drugs for the treatment of prostate cancer. The company’s lead candidate EPI-7386, an androgen receptor based resistance mechanisms that develop in patients with castration-resistant prostate cancer and metastatic castration-resistant prostate cancer.