ESSA Pharma (NASDAQ:EPIX) Posts Earnings Results, Beats Expectations By $0.08 EPS

Key Points

• ESSA Pharma reported a quarterly earnings per share (EPS) of ($0.09), beating analysts' expectations by $0.08.
• The company's stock price remained flat at $1.92 during trading, with a market capitalization of approximately $85.23 million.
• JPMorgan Chase & Co. increased its stake in ESSA Pharma by 14.7% during the second quarter, holding 0.43% of the company post-purchase.

ESSA Pharma (NASDAQ:EPIX - Get Free Report) TSE: EPI released its quarterly earnings results on Wednesday. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.08, Zacks reports.

ESSA Pharma Price Performance

Shares of NASDAQ:EPIX remained flat at $1.91 during trading on Tuesday. The company had a trading volume of 241,767 shares, compared to its average volume of 320,098. The stock has a market capitalization of $90.36 million, a P/E ratio of -3.41 and a beta of 1.55. ESSA Pharma has a fifty-two week low of $1.40 and a fifty-two week high of $7.88. The firm's fifty day simple moving average is $1.81 and its 200-day simple moving average is $1.72.

ESSA Pharma Dividend Announcement

The firm also recently announced a -- dividend, which will be paid on Friday, August 22nd. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.69 per share. The ex-dividend date of this dividend is Monday, August 25th.

Hedge Funds Weigh In On ESSA Pharma

A number of institutional investors have recently made changes to their positions in the business. LMR Partners LLP bought a new position in ESSA Pharma during the 2nd quarter worth $340,000. Rangeley Capital LLC acquired a new position in shares of ESSA Pharma during the second quarter valued at $289,000. BNP Paribas Financial Markets grew its position in shares of ESSA Pharma by 15.2% during the second quarter. BNP Paribas Financial Markets now owns 271,195 shares of the company's stock worth $461,000 after acquiring an additional 35,794 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of ESSA Pharma by 14.7% during the second quarter. JPMorgan Chase & Co. now owns 189,094 shares of the company's stock worth $321,000 after acquiring an additional 24,219 shares during the last quarter. Finally, XTX Topco Ltd increased its holdings in shares of ESSA Pharma by 84.7% in the 2nd quarter. XTX Topco Ltd now owns 42,173 shares of the company's stock worth $72,000 after acquiring an additional 19,344 shares during the period. 75.12% of the stock is owned by institutional investors and hedge funds.

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.