ESSA Pharma (NASDAQ:EPIX) Share Price Crosses Below Fifty Day Moving Average – Should You Sell?

Shares of ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) crossed below its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $5.96 and traded as low as $5.01. ESSA Pharma shares last traded at $5.20, with a volume of 27,568 shares.

ESSA Pharma Stock Performance

The company has a market cap of $230.69 million, a price-to-earnings ratio of -8.25 and a beta of 1.83. The company’s 50 day moving average price is $5.96 and its 200 day moving average price is $5.74.

ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) last posted its earnings results on Monday, August 5th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.10. On average, equities research analysts forecast that ESSA Pharma Inc. will post -0.71 EPS for the current fiscal year.

Hedge Funds Weigh In On ESSA Pharma

An institutional investor recently raised its position in ESSA Pharma stock. Janus Henderson Group PLC boosted its position in shares of ESSA Pharma Inc. (NASDAQ:EPIX) (TSE:EPI) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,175,242 shares of the company’s stock after acquiring an additional 85,760 shares during the period. Janus Henderson Group PLC owned 2.66% of ESSA Pharma worth $9,978,000 at the end of the most recent quarter. Institutional investors and hedge funds own 75.12% of the company’s stock.

About ESSA Pharma

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.