Cantor Fitzgerald began coverage on shares of Ensysce Biosciences (NASDAQ:ENSC – Free Report) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $2.00 target price on the stock.
A number of other analysts also recently commented on ENSC. Wall Street Zen upgraded shares of Ensysce Biosciences to a “hold” rating in a report on Saturday, August 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Ensysce Biosciences in a research note on Thursday, October 15th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $2.00.
Read Our Latest Analysis on Ensysce Biosciences
Ensysce Biosciences Stock Down 1.7%
Shares of ENSC opened at $0.51 on Tuesday. Ensysce Biosciences has a 52-week low of $0.23 and a 52-week high of $2.25. The firm’s fifty day moving average is $0.45 and its two-hundred day moving average is $0.38. The stock has a market cap of $9.94 million, a PE ratio of -0.19 and a beta of 1.00.
Ensysce Biosciences (NASDAQ:ENSC – Get Free Report) last released its earnings results on Thursday, August 13th. The company reported ($0.20) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.20). The business had revenue of $1.16 million during the quarter, compared to analyst estimates of $1.20 million. Ensysce Biosciences had a negative net margin of 280.53% and a negative return on equity of 2,550.30%. As a group, research analysts anticipate that Ensysce Biosciences will post -0.60 earnings per share for the current year.
Insider Activity at Ensysce Biosciences
In related news, Director Bob Gower purchased 400,000 shares of Ensysce Biosciences stock in a transaction dated Friday, August 7th. The shares were acquired at an average price of $0.49 per share, for a total transaction of $196,000.00. Following the acquisition, the director directly owned 916,740 shares in the company, valued at approximately $449,202.60. The trade was a 77.41% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.80% of the stock is currently owned by corporate insiders.
Ensysce Biosciences Company Profile
Ensysce Biosciences, Inc (NASDAQ:ENSC) is a clinical-stage biotechnology company developing prescription pain medicines designed to address opioid abuse, misuse and overdose. The company’s technology platform is intended to create opioid formulations that provide pain relief when used as prescribed while making the drugs more difficult to manipulate for nonmedical use.
Ensysce’s lead program, PF614, is an extended-release oxycodone prodrug designed to use the body’s digestive processes to release oxycodone after oral administration.
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