Oppenheimer analyst Leland Gershell downgrades $ESSA Pharma (EPIX.US)$ to a hold rating.
According to TipRanks data, the analyst has a success rate of 37.3% and a total average return of 3.4% over the past year.
Furthermore, according to the comprehensive report, the opinions of $ESSA Pharma (EPIX.US)$'s main analysts recently are as follows:
Essa Pharma has decided to cease all development of masofaniten after a predetermined futility analysis indicated the candidate did not achieve the desired efficacy profile in the Phase 2 enzalutamide combination study. The company is now initiating a strategic process to explore options that would best enhance shareholder value, details of which are anticipated.
Essa Pharma has halted all masofaniten programs after an interim analysis from its Phase 2 trial, which did not demonstrate any advantage of combining maso with enza over enza alone in treating metastatic castration-resistant prostate cancer. Analysts note the update is unfortunate, but commend the company for its swift action to cease these programs and consider strategic alternatives. Concerns have been raised regarding the company's future direction and the absence of additional assets at various stages of development.
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