Piper Sandler Reiterates Overweight Rating on ESSA Pharma (EPIX)

Piper Sandler analyst Tyler Van Buren reiterated an Overweight rating and $15.00 price target on ESSA Pharma (NASDAQ: EPIX).

The analyst commented, "Ahead of the expected update at ESMO from masofaniten's Phase Ib trial in combination with enzalutamide in anti-androgen naive mCRPC, we once again ran scenario analyses on time to PSA progression. To do this, we built a patient-level dataset based on prior updates and ran best and worst case Kaplan-Meier analyses to better understand how this endpoint could mature with an additional 6-7 months of follow-up. Details follow, but in sum we think the median time to PSA progression is positioned to ultimately mature very favorably as compared to single-agent enzalutamide benchmarks, which should add another layer of confidence around the ongoing randomized Phase II (topline data are expected in mid-'25). Remain Overweight."

For an analyst ratings summary and ratings history on ESSA Pharma click here. For more ratings news on ESSA Pharma click here.

Shares of ESSA Pharma closed at $5.25 yesterday.

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