Ensysce Biosciences (NASDAQ:ENSC) Releases Quarterly Earnings Results, Beats Expectations By $0.30 EPS

Ensysce Biosciences (NASDAQ:ENSC) issued its earnings results on Thursday. The company reported ($0.20) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.30, FiscalAI reports. The company had revenue of $1.16 million for the quarter, compared to analysts’ expectations of $1.20 million. Ensysce Biosciences had a negative net margin of 280.53% and a negative return on equity of 1,225.23%.

Ensysce Biosciences Trading Up 14.7%

Shares of ENSC traded up $0.05 during mid-day trading on Friday, hitting $0.40. 18,472,169 shares of the company traded hands, compared to its average volume of 42,097,140. The business has a 50-day moving average of $0.30 and a 200 day moving average of $0.41. The stock has a market capitalization of $6.15 million, a price-to-earnings ratio of -0.14 and a beta of 0.84. Ensysce Biosciences has a one year low of $0.23 and a one year high of $2.75.

Institutional Trading of Ensysce Biosciences

Institutional investors and hedge funds have recently modified their holdings of the stock. Virtu Financial LLC bought a new stake in shares of Ensysce Biosciences in the 3rd quarter valued at $34,000. Citadel Advisors LLC bought a new position in shares of Ensysce Biosciences in the 3rd quarter valued at about $34,000. Adage Capital Partners GP L.L.C. raised its stake in 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 period. Finally, DRW Securities LLC lifted its position in Ensysce Biosciences by 42.4% during the fourth quarter. DRW Securities LLC now owns 98,481 shares of the company’s stock worth $91,000 after acquiring an additional 29,336 shares during the last quarter. 5.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ENSC has been the subject of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of Ensysce Biosciences in a research report on Friday, July 17th. Wall Street Zen raised shares of Ensysce Biosciences to a “hold” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

About Ensysce Biosciences

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.