Ensysce Biosciences (NASDAQ:ENSC) Issues Earnings Results, Beats Estimates By $0.51 EPS

Ensysce Biosciences (NASDAQ:ENSC) announced its quarterly earnings data on Monday. The company reported ($0.75) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.26) by $0.51, FiscalAI reports. Ensysce Biosciences had a negative net margin of 200.87% and a negative return on equity of 458.65%. The business had revenue of $1.88 million for the quarter, compared to analysts’ expectations of $0.50 million.

Ensysce Biosciences Trading Up 4.8%

ENSC opened at $0.54 on Wednesday. The company has a market cap of $1.95 million, a P/E ratio of -0.13 and a beta of 1.14. The company’s 50 day moving average is $0.55 and its 200-day moving average is $1.33. Ensysce Biosciences has a 1-year low of $0.31 and a 1-year high of $4.85.

Hedge Funds Weigh In On Ensysce Biosciences

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new stake in Ensysce Biosciences in the third quarter valued at approximately $34,000. Citadel Advisors LLC acquired a new position in shares of Ensysce Biosciences during the third quarter worth $34,000. DRW Securities LLC lifted its stake in shares of Ensysce Biosciences by 42.4% in the 4th quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock valued at $91,000 after acquiring an additional 29,336 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Ensysce Biosciences by 100.4% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 149,711 shares of the company’s stock valued at $138,000 after acquiring an additional 75,000 shares during the last quarter. Institutional investors own 5.63% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Ensysce Biosciences in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Ensysce Biosciences has an average rating of “Sell”.

Ensysce Biosciences Company Profile

Ensysce Biosciences, Inc is a clinical-stage biopharmaceutical company focused on the development and commercialization of novel prodrug therapies aimed at improving pain management and addressing opioid misuse. Leveraging its proprietary prodrug platform, the company designs drug candidates that convert into active pharmaceuticals through specific enzymatic action, providing controlled-release profiles and built-in abuse deterrence features.

The company’s lead product candidate, ENS100, is an investigational oral prodrug of hydrocodone engineered to reduce the potential for misuse and abuse compared to immediate-release opioid formulations.