HC Wainwright Reiterates Buy Rating for ESSA Pharma (EPIX)

HC Wainwright reiterated their buy rating on shares of ESSA Pharma (NASDAQ:EPIX) (TSE:EPI) in a report issued on Friday, AnalystRatings.com reports.

“Valuation and risks to price target achievement. We reiterate our Buy rating and $14 price target. Our price target is based on our clinical net present value (NPV) model, which allows us to flex multiple assumptions affecting a drug’s potential commercial profile. Our current target is based 100% on the projected lead Aniten asset for prostate cancer. Factors that could impede reaching our price target include failed or inconclusive clinical trials or inability of the company to secure adequate funding to progress its drugs through the development pathway.”,” the firm’s analyst commented.

Separately, Zacks Investment Research downgraded ESSA Pharma from a hold rating to a sell rating in a research report on Thursday.

EPIX stock traded down $0.29 during midday trading on Friday, reaching $2.14. 16,210 shares of the company traded hands, compared to its average volume of 5,043. ESSA Pharma has a 52-week low of $1.87 and a 52-week high of $4.69. The company has a debt-to-equity ratio of 0.60, a quick ratio of 3.54 and a current ratio of 2.44.

ESSA Pharma Company Profile

ESSA Pharma Inc, a pharmaceutical company, focuses on the development of small molecule drugs for the treatment of prostate cancer. The company was founded in 2009 and is headquartered in Vancouver, Canada.

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