Oversold Conditions For ESSA Pharma (EPIX) Wednesday, April 3, 6:15 PM ET, by Market News Video Staff Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy ...
Get An Even Better Deal On EPIX Than Director Berger Did
By Market News Video Staff, Monday, March 8, 10:05 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on February 22, ESSA Pharma Inc's Director, Franklin M. Berger, invested $1,539,000.00 into 57,000 shares of EPIX, for a cost per share of $27.00. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Monday, bargain hunters could buy shares of ESSA Pharma Inc (NASDAQ:EPIX) and achieve a cost basis even cheaper than Berger, with shares changing hands as low as $26.98 per share. ESSA Pharma Inc shares are currently trading up about 3.1% on the day. The chart below shows the one year performance of EPIX shares, versus its 200 day moving average:
Looking at the chart above, EPIX's low point in its 52 week range is $3 per share, with $32.69 as the 52 week high point — that compares with a last trade of $27.86. By comparison, below is a table showing the prices at which EPIX insider buying was recorded over the last six months:
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