Could ESSA Pharma Inc Change Direction After Reaching 52-Week Low?


The stock of ESSA Pharma Inc (TSE:EPI) hit a new 52-week low and has $2.84 target or 10.00% below today’s $3.16 share price. The 7 months bearish chart indicates high risk for the $91.87M company. The 1-year low was reported on Sep, 13 by If the $2.84 price target is reached, the company will be worth $9.19 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 11,800 shares traded hands or 64.39% up from the average. ESSA Pharma Inc (TSE:EPI) has declined 12.99% since February 10, 2016 and is downtrending. It has underperformed by 29.48% the S&P500.

ESSA Pharma, Inc. is a Canada-based clinical-stage pharmaceutical company. The company has a market cap of $91.87 million. The Firm is developing drugs that selectively block the N-terminal domain of the androgen receptor (AR). It currently has negative earnings. The Company’s segment is the development of small molecule drugs for prostate cancer.

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