JonesResearch analyst Soumit Roy downgraded Essa Pharma (EPIX) to Hold from Buy with no price target after the board decided to terminate all trials to conserve cash. The firm, which says “we were wrong in our assessment of masofaniten’s potential,” expects the stock to trade at a 40%-50% discount to cash per share of $2.64 and awaits comments from management on the future steps they plan.
Invest with Confidence:
- Follow TipRanks' Top Wall Street Analysts to uncover their success rate and average return.
- Join thousands of data-driven investors – Build your Smart Portfolio for personalized insights.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on EPIX: