ESSA Pharma (EPIX) Gets a Buy Rating from H.C. Wainwright

In a report released today, Joseph Pantginis from H.C. Wainwright maintained a Buy rating on ESSA Pharma (EPIXResearch Report), with a price target of $8.00. The company’s shares closed last Monday at $5.30.

According to TipRanks.com, Pantginis is a 5-star analyst with an average return of 15.3% and a 47.6% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Lineage Cell Therapeutics, and Iovance Biotherapeutics.

Currently, the analyst consensus on ESSA Pharma is a Moderate Buy with an average price target of $8.00.

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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 $1 million. In comparison, last year the company had a GAAP net loss of $2.71 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.