Ensysce Biosciences (NASDAQ:ENSC) Announces Quarterly Earnings Results

Ensysce Biosciences (NASDAQ:ENSC) released its quarterly earnings results on Thursday. The company reported ($4.52) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($4.40), FiscalAI reports. Ensysce Biosciences had a negative return on equity of 2,550.30% and a negative net margin of 280.53%. The company had revenue of $2.18 million for the quarter, compared to the consensus estimate of $1.20 million.

Ensysce Biosciences Trading Up 7.5%

ENSC stock traded up $0.03 during trading hours on Thursday, hitting $0.39. 389,073 shares of the stock traded hands, compared to its average volume of 6,581,382. The stock has a 50-day simple moving average of $0.45 and a 200 day simple moving average of $0.42. Ensysce Biosciences has a one year low of $0.23 and a one year high of $2.17. The company has a market cap of $7.53 million, a P/E ratio of -0.14 and a beta of 1.11.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ENSC shares. UBS Group initiated coverage on shares of Ensysce Biosciences in a research note on Thursday. They issued a “buy” rating and a $2.00 price target for the company. Weiss Ratings upgraded shares of Ensysce Biosciences from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, October 30th. Wall Street Zen raised Ensysce Biosciences to a “hold” rating in a report on Saturday, August 8th. Finally, Cantor Fitzgerald started coverage on Ensysce Biosciences in a research report on Tuesday, October 20th. They issued an “overweight” rating and a $2.00 target price for the company. Two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $2.00.

Ensysce Biosciences Company Profile

Ensysce Biosciences, Inc. is a clinical-stage biotechnology company focused on developing prescription medicines designed to address opioid abuse, misuse and overdose. The company’s technology is intended to preserve the therapeutic benefits of opioid pain medicines while incorporating mechanisms that may reduce the risks associated with tampering or excessive dosing. Ensysce’s lead product candidate, PF614, is an investigational extended-release oxycodone prodrug designed to be activated in the gastrointestinal tract.