The stock of ESSA Pharma Inc (TSE:EPI) reached all time low today, Sep, 13 and still has $2.72 target or 14.00% below today’s $3.16 share price. This indicates more downside for the $91.87 million company. This technical setup was reported by Barchart.com. If the $2.72 PT is reached, the company will be worth $12.86M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 11,900 shares traded hands or 65.78% 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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